19
Jul
13:48
Saudi scrap quotes trend up, billet under pressure
Saudi Arabia’s domestic scrap quotes are trending up since scrap intake was increased by the benchmark mill, which pays merchants slightly higher than the market price.
Large quantities of scrap move from Jeddah and Riyadh to Jubail in the Eastern Province, where the benchmark mill’s facilities are located. Induction furnace-route merchant billet producers are trying to elevate their quotes on raw material price increases.
Buyers – rebar re-ro…
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Anonymous
Very good overview of the weekly steel market.
Anonymous