16
May
15:00
GCC HRC buyers lower their bids
Gulf Cooperation Council hot rolled coil buyers have lowered their bids this week, with sellers eager to accept if the volumes demand are reasonable, Kallanish notes.
This week, the bloc's sole HRC producer, the Saudi mill, dropped its July-delivery 2mm+ SAE 1006 grade HRC offer for a minimum-order quantity of 10,000 tonnes to $640/tonne delivered to any buyer in the bloc. This equates to $620-625/t ex-works. Payment is against 60 days letter of credit at sigh…
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Anonymous
Very good overview of the weekly steel market.
Anonymous