23
Nov
13:04
Saudi scrap price slide impacts billet quotes
In Saudi Arabia this week, local HMS 80:20 grade scrap prices softened SAR 20-30/tonne ($5.3-8). This was due to the abundance of rebar scrap generated in demolished buildings in the Jeddah region, low demand from merchant billet producers and the recent arrival of previously ordered imported scrap by a major mill.
Two major mills booked five scrap cargoes for a combined tonnage of nearly 150,000 tonnes and five billet cargoes for a combined 220,000-250,000t.…
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Anonymous
Very good overview of the weekly steel market.
Anonymous