Saudi Arabia to resume HRC deals amid upward trend

摘要

Saudi Arabian buyers have decided to resume signing contracts for import HRC as they expect the upward trend tocontinue.Over the previous three weeks prices for 3 mm and 1.2 mm material from China have increased by $45?75/t to $365?390/tCFR Dammam and $400?420/t CFR Dammam respectively. Japanese suppliers, however, are expected to raise theirprices to this destination not so substantially. Market players report the new price level will be approximately $20/thigher than the latest booking price of $330?340/t CFR Dammam/Jeddah in February.