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Saudi Arabia’s HRC market remains slow, with cautious buying and logistics constraints continuing to weigh on import activity amid the current regional situation.
Chinese HRC offers are currently heard at around USD 625-635 per ton CFR Saudi Arabia for 1.2 mm, while 3 mm and thicker material is offered at USD 600-610 per ton CFR. Commercial-quality Chinese heavy plate of 20 mm and above is available at around USD 635-645 per ton CFR.
The GCC’s sole HRC producer, Hadeed, is offering base-size HRC to the Saudi domestic market at around USD 740-750 per ton delivered in Saudi Arabia.
A GCC-based trader said the Saudi HRC market is facing logistics constraints, with import buying remaining cautious and slow due to the current regional situation.
Limited vessel availability, particularly for Saudi ports, has pushed up freight rates, while war-risk premiums and insurance costs have also increased. Chinese suppliers are currently quoting on a Dammam/Jeddah basis, keeping their port options open amid the uncertain shipping environment. Jeddah is facing significant congestion, adding to delivery uncertainty through the western Saudi port.
China-origin HR steel imports under HS 7208 totaled 182,752 tons in August, up 26.4 pct YoY but down 11 pct MoM. During January-August, imports reached 1.487 mln tons, down 4.7 pct YoY.
In August, HRC imports rose 146.1 pct YoY to 135,573 tons, while HR sheets and plates fell 47.3 pct YoY to 47,180 tons. For detailed Saudi steel import statistics, see MESTEEL’s latest analysis here.