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09 Aug

Saudi scrap slides, billet unchanged

The Saudi Arabian billet market is quiet this week, with few transactions taking place. After billet producers united to give a clear message to traders that they would stop buying scrap until its prices slide, scrap traders reduced their quotes by SAR 50/tonne ($13.3) on-week, Kallanish notes. In Jeddah, HMS 80:20 grade scrap is available at SAR 1,325/t and rebar scrap in bundle at SAR 1,550/t, while in Riyadh, HMS 80:20 is at around SAR 1,350/t. On the west coas…
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Burak Odabasi  |  Turkey
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