05
Oct
13:53
Saudi billet market improves on robust demand
Saudi Arabia's billet market is improving on strong rebar sales versus low local scrap prices. Merchant billet producers are seeing more demand at better margins. Scrap price increases face an obstacle, as the largest, benchmark steel producer in the country has large scrap stocks and is resisting scrap price hikes, Kallanish notes.
This week, merchant billet producers are offering 130-150mm 4sp induction furnace billet at SAR 2,250-2,275/tonne ($592…
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Anonymous
Very good overview of the weekly steel market.
Anonymous