Slow demand in the Saudi Arabian flat steel market

In the Saudi Arabian flat steel market, local producer SABIC's prices of hot rolled coil (HRC) of 3 mm thickness are standing at SAR 2,568/mt ($685/mt) and cold rolled coil (CRC) of 0.9 mm thickness are at SAR 2,901/mt ($774/mt), while hot dip galvanized coils (HDG) of 1.5 mm thickness are at the level of SAR 3,325/mt ($887/mt) - all for prompt deliveries. Meanwhile, offers for Egyptian mill EZDK's production HRC of 1.2 mm thickness via traders to the Saudi Arabian market are standing at $735/mt FOB. Although the Saudi Arabian flat steel market was expected to gain momentum after Ramadan, it has so far continued to remain stagnant; however, expectations prevail in the market that demand will be better in October.
 
US1 = SAR 3.75