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20 Nov

Saudi rebar market awaits direction from flag carrier

The Saudi Arabian rebar market is awaiting direction, with industry participants looking for guidance to the benchmark mill’s December rebar price announcement, expected within a week. Last week, Riyadh-based trader Bin Yamani, which does not hold large stocks, increased rebar prices by SAR 50-60/tonne ($13-16) in anticipation of a price hike, but resumed sales this week at market prices, Kallanish notes. The benchmark mill's rebar is being traded betw…
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