According to Mysteel, the price of mainstream hot coils in the Middle East is currently on a downward trend. The price of 3.0mm size is US$820/ton CFR Dubai, down by about US$20/ton week-on-week.
Although the price of imported HRC in the Middle East is gradually weakening, the price of imported HRC in Saudi Arabia is easy to rise but not fall. First of all, the 1.2mm HRC imported to Saudi Arabia recently has a tight supply and a high price. Secondly, the severe shortage of shipping vessels has led to the inability of the goods to arrive at the port on time. In addition, the rising freight cost in Shanghai has led to the current situation of rising prices of imported HRC in Saudi Arabia, which will not be resolved in the short term.
Post time: Jan-17-2022