08
May
13:46
Saudi's Al Ittefaq elevates domestic scrap quotes
Dammam, Saudi Arabia-based integrated mill Al Ittefaq has triggered a scrap price hike in the country of SAR 20-50/tonne ($5-13) on-week. This comes after it raised its delivered scrap purchase prices to SAR 1,620/t ($432) for HMS 1/2 80:20, SAR 1,650/t for shredded and SAR 1,675/t for PNS, with a payback period of 30-45 days.
By being less selective in its scrap approvals during the off-loading process, the company is attracting more volumes from dealers. This ha…
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Anonymous
Very good overview of the weekly steel market.
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