A Saudi Arabian flats producer has decreased its HRC prices to $550/mt from $600/mt in the past week due to high stock levels and low demand. The prices of stockists have in the past week remained unchanged compared to the previous week. Stockists' prices in this country have been at SAR 2,200-2,400/mt ($587-640/mt), whereas their HDG prices have been at SAR 3,500/mt ($933/mt). The import flats market in this country has become silent again.
Flats offers to the UAE have in the past week remained unchanged compared to the previous week. While the offer from one international trader stood at $479/mt CFR Dubai for HRC in sizes of 1.80 mm and above, offers from the same trader have been at $15/mt higher for 1.60-1.80 mm HRC. Ex-Russia CRC offers have been at $520/mt CFR Dubai for 0.50 mm and above material.
Looking at Europe, Riva's base HRC prices have been at €380-390/mt, while it is heard that the Arvedi Group has sold HRC at around €400/mt and it is also heard that this firm has filled its order book for its production until February. Considering the upcoming three weeks of holidays in Italy, it is expected that this market will remain silent. Meanwhile, ex-Ukraine and ex-Russia flats offers to this country have been at price levels of €390-400/mt CFR.
Although the price levels in Portugal have been at €580-600/mt, buyers are not considering purchases for the time being due to the low demand level. They may start to buy as of the New Year depending on the levels of activity in the market.
Ex-stock HRC prices in the UK have in the past week been at £400/mt indicating a decrease of £55/mt compared to the previous week. Meanwhile, Turkish origin HRC prices have been at around £450/mt in the local UK market. Demand is still at low levels in this country.