05
Apr
13:43
Saudi billet producers struggle with scrap-rebar squeeze
Saudi Arabian merchant billet producers are under pressure from low rebar quotes and high scrap prices in the domestic market. In the wider Gulf Cooperation Council, billet buyers have reduced their bids, squeezing the Saudi suppliers.
In March, Dammam-based induction furnace-route merchant billet producers sold nearly 20,000 tonnes of billet to buyers in Bahrain and United Arab Emirates at $575-580/tonne ex-works. The Jeddah-based IF mill concluded a deal destine…
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Anonymous
Very good overview of the weekly steel market.
Anonymous