23
Aug
13:41
Saudi billet prices squeeze steelmaker margins
Saudi billet prices have been stable at SAR 1,900-1,925/tonne ex-works ($507-513) with minor exceptions since the beginning of August, but scrap has risen SAR 50/tonne ($13.3) in the last week. Scrap suppliers are limiting availability on the back of rumours that the benchmark mill will remove the project discount on rebar, thus increasing the chance that effective rebar prices can be leveraged to scrap quotes., notes Kallanish.
Merchant billet producers cont…
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Anonymous
Very good overview of the weekly steel market.
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