27
Sep
14:15
Saudi major signs domestic billet deal, settles prices
Saudi Arabian merchant billet producers have pulled down their billet offers after the benchmark mill concluded a billet deal at below market prices, notes Kallanish.
Saudi induction furnace-route merchant billet producers attempted to raise their 130mm 4sp billet offers to SAR 2,000/tonne ($533.3) ex-mill earlier in the week. After being rebuffed, however, they lowered their quotes to last week's offers of SAR 1,930-1,960/t ex-mill. This came after the fully …
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Very good overview of the weekly steel market.
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