03
Oct
13:57
Subdued demand depresses Saudi rebar prices
Saudi Arabian rebar prices are under pressure from traders' high inventories and a subdued retail market.
The benchmark mill announced it is maintaining its October scrap purchase price unchanged from September. HMS 80:20 grade is meanwhile being offered against cash payment at SAR 1,470-1,500/tonne ($392-400) delivered in Riyadh and Dammam, Kallanish observes.
Due to the low demand for rebar in the retail market, third-tier rebar producers in Riyadh and Damm…
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Anonymous
Very good overview of the weekly steel market.
Anonymous