Posted on 18 Mar 2026
The Gulf Cooperation Council’s sole flat-rolled steel producer, Hadeed, has increased its May-rolling hot-rolled coil (HRC) price amid supply disruptions on the east coast in Dammam, linked to the Strait of Hormuz shipping constrains, Kallanish learns from market sources.
Its base HRC price has now increased to SAR 2,400/tonne ($640/t) delivered, up from SAR 2,310/t previously.
The announcement was made on the first day of the week, 15 March, in the middle of the month.
Previously booked HRC cargoes from China and other origins are being redirected to the west coast, mainly to Jeddah port which brings high inland transportation costs.
For May shipments, an overwhelming number of suppliers from different origins remain reluctant to offer material as the sharp rise in oil prices has pushed up sea freight rates. Meanwhile, many vessel owners are waiting for freight levels to stabilise before committing tonnage.
Source:Kallanish
