10
May
14:33
Saudi billet producers cut production on low bids
Saudi Arabia's merchant billet producers have lowered their capacity utilisation, with some even stopping completely in the last month, due to scrap quotes remaining stubbornly high despite low billet and rebar prices, Kallanish notes.
The Jubail-based benchmark mill announced its HMS 1 80:20 grade scrap buying price at around SAR 1,600-1,650/tonne ($426-440) delivered, which is almost SAR 250-400/t higher than other mills' buying prices. Merchant bil…
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Anonymous
Very good overview of the weekly steel market.
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