Steel HRC (Saudi Arabia) Prices

15-04-2026 - The market is currently experiencing mixed signals due to varying influences on raw material prices. The forecast indicates upward price pressure on raw materials, primarily driven by data on Seaborne Imports & Exports and Exchange Rates, which collectively contribute to a $3.5/t impact. However, Technical data suggests a potential downward trend, creating an overall uncertain outlook.

In the steel market, recent analyses reveal an upward trend, consistent with the forecast predicting a price increase to $620.0 in the upcoming month. Notably, BigMint's India Steel Index recorded a significant 3.4% week-on-week rise as of April 3, 2026, marking the most substantial increase in recent history. This surge is largely due to raw material shortages, supply constraints, and heightened demand. Specifically, hot-rolled coil (HRC) trade prices have reached a three-year peak, with assessments indicating a week-on-week increase of INR 2,000 per tonne, bringing the price to INR 59,500 per tonne ($634 per tonne) as of March 31, 2026. These factors collectively support the anticipated upward price movement in the steel market.