PRICING NOTICE: Proposal to amend specification of Fastmarkets’ Saudi Arabia HRC import price assessment

Fastmarkets proposes amend the specification of its weekly assessment for steel hot-rolled coil import, cfr Saudi Arabia, $/tonne, with regard to the thickness of material considered

Under the current specification, material with thicknesses in the range 1.5-3mm will be considered. Under the proposed new specifications, only material of 1.2mm will be considered.

Saudi Arabia mostly imports HRC of 1.2mm thickness. The reason for imports being mostly 1.2mm thick is that local producers can supply thicker qualities, but 1.2mm cannot be produced locally.

The price difference from 1.2mm to 1.5mm varies from time to time and from producer to producer. The price of the product also depends on availability, because producers of thinner gauges are limited globally.

The current specifications are as follows:

MB-STE-0113 Steel hot-rolled coil import, cfr Saudi Arabia, $/tonne

Quality: Width 1,000-3,000mm, thickness 1.5-3mm

Quantity: Standard order 500-1,000 tonnes

Location: cfr Jeddah

Timing: 6-8 weeks

Unit: USD/tonne

Payment terms: Prompt payment upon delivery

Publication: Weekly. Tuesday, 2-3pm London time

The consultation period for this proposed amendment starts from Monday, January 17 and will end on Thursday, February 17. The amendment will take place, subject to market feedback, on Tuesday, February 22.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Serife Durmus by email at: Please add the subject heading “FAO: Serife Durmus, re: steel hot-rolled coil import, cfr Saudi Arabia.”

To see all Fastmarkets’ pricing methodology and specification documents go to about-us/methodology.

What to read next
Key data from Fastmarkets’ aluminium ingot ADC 12 pricing session in China on Wednesday November 30
German equipment provider SMS Group will provide a logistics and storage system for a forthcoming $238.7 million aluminium foil plant being built in the US by South Korea’s LOTTE Group to meet demand for the material’s use in electric vehicles (EVs)
Fastmarkets has corrected its price indices for US- and Northern Europe-origin steel scrap, CFR Turkey, which were published incorrectly on Thursday December 1 due to a technical error.
Fastmarkets has today discontinued its price assessment for hot-briquetted iron export, fob main port Venezuela (MB-FE-0002).
After a consultation period, Fastmarkets has launched a weekly indicator for direct-reduction (DR)-grade iron ore pellet premiums, known as the iron ore DR-grade pellet premium indicator, $ per tonne.
Fastmarkets has corrected the average calculation of its prime scrap prices in Pittsburgh.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.