03
May
11:21
Saudi mills reduce scrap buying prices, billet plummets
Following the drastic rebar price drop, Saudi merchant billet producers and integrated mills, except the benchmark mill, have substantially reduced their scrap buying prices.
Moreover, billet buyers are negotiating with induction furnace-route merchant billet producers for a decrease of SAR 200-300/tonne ($53-80) on April to SAR 1,800-1,850/t ex-works. The Jubail-based integrated mill is heard offering electric arc furnace-route billet to Jordan at SAR …
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Anonymous
Very good overview of the weekly steel market.
Anonymous