20
Mar
14:19
Saudi rebar prices pressure billet, scrap tags
Saudi Arabian rebar producers are refusing to accept local billet at above SAR 2,060/tonne ($549) delivered, as third-tier rebar prices have fallen to SAR 2,115-2,120/t ex-works against cash. Still, merchant billet producers cannot meet buyers' target quotes due to the scrap-to-billet conversion cost of SAR 450/t, notes Kallanish.
With rebar demand low due to high interest rates negatively impacting the real estate sector, coupled with the Ramadan slowdown, bi…
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Anonymous
Very good overview of the weekly steel market.
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