Saudi flat steel prices trend sideways despite weak demand

Local steel producers in the Saudi Arabian domestic flat steel market have revoked discounts they had previously been offering, while buyers' demands for discounts are still being accepted by foreign producers. Flat steel demand in Saudi Arabia continues to slow down in the month of Ramadan, while flat steel prices are trending sideways after last week's price decreases.
 
Accordingly, hot rolled coil (HRC) prices in the Saudi Arabian market are currently standing at $715-770/mt, while cold rolled coil (CRC) prices are at $785-850/mt, hot dip galvanized (HDG) coil prices are at $850-870/mt and pre-painted galvanized iron (PPGI) prices are at $900-995/mt, all ex-works and for August-September deliveries.
 
In the meantime, HRC offers from Japan and China to Saudi Arabia are at $650-660/mt CFR for September shipments.