08
Feb
08:58
Saudi scrap hike piles further pressure on re-rollers
Following the domestic scrap price increase in Saudi Arabia, merchant billet producers are struggling to buy scrap. This week, the benchmark mill has also increased its PNS (premium) grade scrap buying price to SAR 1,770/tonne ($472), from last week's SAR 1,745/t, further squeezing margins in the market, Kallanish learns from market sources.
The billet market is sluggish due to the high domestic scrap price versus low-priced rebar. Small-capacity rebar pr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous