02
Feb
13:43
Saudi merchant billet market halts on margin squeeze
The domestic billet market in Saudi Arabia took a breather when rebar prices declined whilst scrap prices hiked controversially this week.
Merchant billet producers are withholding their offers until they see a clear sign that scrap prices have decreased to workable levels. Some billet suppliers have unsold billet stocks from January and shifted their focus to export markets, Kallanish notes.
Last week, billet quotes were pegging at SAR 2,080-2,12…
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Anonymous
Very good overview of the weekly steel market.
Anonymous