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06 Jun

GCC mill reduces HRC despite import price uptick

Imported hot rolled coil prices in the Gulf Cooperation Council are seeing an upward trend driven by the Chinese domestic market recovery. However, the region's sole HRC producer, the Saudi major, has lowered its quote, Kallanish notes. The Saudi mill issued its August-rolling 3mm SPHC-1 (base grade) grade HRC quote at $700/tonne delivered within the country, down $60/t on July deliveries. Last week, the bloc's largest re-roller booked a 20,000-tonne…
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Burak Odabasi  |  Turkey
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