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10 Jan

Rising costs hit Saudi scrap collectors

Last week's announcement of a 53% increase in Saudi Arabian diesel prices compared to December has not translated into scrap or billet quote hikes, but it has put a strain on scrap collectors. Collectors’ main customers, scrap yards that supply mills, have reduced their scrap purchase prices from collectors by SAR 20-30/tonne ($5-8), but retained their quotes to mills after receiving resistance, notes Kallanish. Delivered to buyer's yard on cash or…
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