06
Mar
13:42
Saudi billet producers increase scrap buying prices
Scarcity of supply is keeping Saudi Arabian scrap prices firm despite the international scrap slump. Local merchant billet producers have increased purchase prices to ensure adequate scrap supply. Local billet prices are stable, leaving narrow margins for producers.
A few billet buyers in Riyadh are looking for alternative supply from Oman, where ex-mill prices have declined to $535/tonne from $540/t. It would not be surprising if the big scrap-using mills soon s…
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Anonymous
Very good overview of the weekly steel market.
Anonymous