28
Feb
13:04
High scrap, low rebar tags depress Saudi market
Saudi Arabian billet prices are being squeezed between third-tier mills' rebar wholesale prices and scrap purchasing quotes, notes Kallanish.
Following the benchmark mill's February rebar price rollover for March deliveries, amid rising scrap quotes due to scrap shortages, merchant billet producers are facing resistance from rebar re-rollers. They have increased billet tags by SAR 20-30/tonne ($5.3-8) versus previous deals throughout February.
This week, …
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Anonymous
Very good overview of the weekly steel market.
Anonymous