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14 Feb

Saudi scrap gains on supply shortage

Saudi Arabia's benchmark mill has increased its scrap intake volumes, which, combined with the seasonal downward trend in scrap collection, is driving up prices, notes Kallanish. Buyers are being forced to increase their buying prices by SAR 30-50/tonne ($8-13.3) on-week for acceptable quality HMS 80:20 grade, unless supplies are blended with lower grades. This week, scrap dealers in Saudi Arabia are asking SAR 1,475-1,490/t for delivered HMS 80:20 grade in Jā€¦
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