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21 Feb

Large-volume domestic mill scrap booking tightens Saudi supply

Last week's unprecedented large-volume scrap booking, surpassing 35,000 tonnes, from the domestic market by one Saudi west coast mill has created a vacuum in the market, exacerbating the scrap shortage in Saudi Arabia, Kallanish notes. This week, merchant billet producers are feeling the pinch of the scrap shortage and have, therefore, increased their scrap purchase prices. Agreeable quality of HMS 80:20 grade on the west coast is being booked at SAR 1,450-1,4…
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