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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: pricing@fastmarkets.com. 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 https://www.fastmarkets.com/ about-us/methodology.