Domestic HRC prices in Saudi Arabia have increased amid tightening supply and ongoing logistics disruptions linked to regional geopolitical tensions, market sources said.
Saudi Arabia’s Saudi Iron and Steel Company (Hadeed) has increased domestic HRC prices, market sources told MEsteel. Prices for 3mm commercial-grade HRC have risen by USD 120-130 per ton to USD 750-760 per ton delivered Dammam, according to market information.
Market insiders said that the mill may implement further increases, citing tight allocations and firm demand. Steel imports have also been affected by vessel delays and cargo disruptions linked to Middle East tensions, with some vessels reportedly stranded offshore or redirected to alternative ports, further supporting the upward price trend. Sources added that Chinese suppliers have largely suspended export offers to GCC markets in recent weeks amid uncertainty, further tightening supply.
Hadeed is the GCC’s major steel producer with an annual capacity of 3.8 mln tons of long products and 2.2 mln tons of flat products. The company was acquired by the Public Investment Fund in May 2024.
