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Hadeed—the sole flat steel producer within the Gulf Cooperation Council (GCC)—has raised the price of hot-rolled coils for May delivery, citing supply disruptions on the eastern coast of Dammam. JFS A3021 JEH590R Automotive steel strip, Sources indicate that these supply disruptions are linked to restrictions on shipping traffic through the Strait of Hormuz.
The company's latest base price for hot-rolled coils has been increased to SAR 2,400 per tonne (approximately US$ 640 per tonne) on a delivered basis, up from the previous rate of SAR 2,310 per tonne. JFS A3021 JEH590R Automotive steel strip, This price adjustment was announced on March 15 (the start of the week), falling at the midpoint of the month.
Due to shifts in logistics, shipments of hot-rolled coil originally destined for the East Coast—primarily from China and other regions—have been diverted to the West Coast, concentrating largely at Jeddah Islamic Port; this redirection has significantly driven up inland transportation costs.
Regarding shipments scheduled for May, most suppliers have shown limited willingness to issue price quotes. JFS A3021 JEH590R Automotive steel strip, On one hand, rising oil prices have triggered a sharp surge in ocean freight rates; on the other, shipowners are generally adopting a wait-and-see approach toward freight rate trends, holding off on locking in shipping capacity until rate levels stabilize.
