Posted on 24 Sep 2025
Gulf Cooperation Council hot rolled coil import prices are holding stable, despite volatility in Chinese futures. Market participants anticipate a potential price correction following China's week-long National Day holiday, which concludes on 8 October, Kallanish notes.
Market activity last week saw a key stockist book a 30,000-tonne ex-China parcel of A36-grade HRC (3mm+) at approximately $503/tonne cfr Jebel Ali (liner out). This represents a slight increase from a significant pipemaker's deal concluded two weeks prior at $500/t cfr, which included higher-grade S355JR material. The net base price for that consignment was assessed in the $492-495/t cfr range for November shipment.
Current initial offers for standard grades – 2.8-3mm – from Chinese suppliers are noted around $505-515/t cfr Jebel Ali, also for November shipment. Thinner-gauge, 1.2mm HRC is offered at $545/t cfr Dammam for October shipment.
With local re-rollers largely absent from the import market, indications are sparse. On a cfr basis, the major Japanese mill is heard quoting at around $520/t cfr for end-November/December shipment, while Taiwanese November-shipment and Indian October-shipment offers are at around $525/t cfr. Inquiry volumes remain muted, suggesting most buyers are deferring their usual procurement decisions until the second week of October.
According to a senior Chinese trader, the market is characterised by weak Chinese domestic demand and rising stocks. This has led to a standoff, with suppliers keen to secure deals before the October holiday and buyers reluctant, anticipating lower prices once the holiday concludes.
Source:Kallanish
