Steel HRC (Saudi Arabia) Prices

30-01-2026 - The current market forecast indicates upward pressure on raw material prices, influenced by technical data with a $5.0/t impact. This is primarily driven by Trend Following ($3.0/t) and Price Signals ($1.5/t). However, Flows data suggests a downward trend, resulting in mixed overall signals.

As January 2026 begins, the US ferrous scrap market shows a bullish outlook. The Trend Indicator is at 57.3, indicating upward price pressure and a projected month-on-month increase of 3.2%, following a 4.2% rise in December. The consensus level stands at 58%, closely matching the 24-month average, reflecting balanced sentiment among market participants. Inventories are slightly above average at 52.2, indicating stable mill stocking. Buyers are the most optimistic with a sentiment score of 59.72, while brokers are more cautious at 55. Sellers share the bullish sentiment at 57.3, consistent with the overall Trend Indicator. No significant changes in market fundamentals are expected, with "All Unchanged" cited as the primary market driver for the month. Survey comments highlight ongoing low flows, some weather-related disruptions, and political uncertainty, though these factors are not anticipated to significantly impact price dynamics in the short term. Exports have strengthened slightly, but supply remains tight enough to support current pricing levels. Overall, January is expected to see modest gains, with few dramatic changes unless macroeconomic or geopolitical events occur.