12
Oct
14:12
Saudi billet prices increase over artificial scrap shortage
Saudi Arabian billet prices are increasing slightly on robust demand and scarcity of scrap, Kallanish notes.
This week, billet increased by SAR 50/tonne ($13.3) on-week and, besides Jeddah, scrap buyers in Dammam and Riyadh are feeling a shortage of scrap supply. Suppliers are said to be withholding material to obtain better prices. However, buyers have enough scrap inventory and sellers' aim to hike prices may not work.
130/150mm 4sp grade induction fur…
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Anonymous
Very good overview of the weekly steel market.
Anonymous