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07 Feb

Riyadh buyers drive billet demand, price increase

Rising demand for billet in the Saudi capital, Riyadh, is driving up prices. Srap prices are trending up SAR 30/tonne ($4) nationally compared to last week as scrap processors reflect increased scrap purchase quotes from collectors to induce more supply amid the seasonal decline in collection, notes Kallanish. Between Sunday and Tuesday this week, buyers in Riyadh concluded many billet deals in Saudi Arabia. Suppliers, primarily based in Dammam, closed a high mang…
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