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- Saudi Arabia -

Saudi Scrap Quotes Rise Amid Supply Shortages

Saudi Arabian scrap suppliers and merchant billet producers are raising prices due to scrap collection shortages, which is squeezing billet producers amid low rebar prices. 

In Riyadh, tier-three mills are offering rebar at SAR 2,090-2,130/tonne ($557-568) ex-works against cash payment. 

For this week, induction furnace-route billet producers in Saudi Arabia are quoting 4sp billet at SAR 2,010-2,030/tonne ex-works in Jeddah and SAR 1,990-2,050/tonne in Dammam and Riyadh, providing a challenging environment for billet producers. 

The benchmark mill maintained its December scrap purchase prices of SAR 1,120/tonne ($299/tonne) for light scrap, SAR 1,600/tonne ($427/tonne) for HMS 80:20 grade, SAR 1,645/tonne ($439/tonne) for shredded and SAR 1,670/tonne ($445/tonne) for premium, all on a delivered basis with weekly payment. 

However, local scrap demand remains high, and merchant billet producers in Riyadh and Dammam are paying SAR 1,550-1,570/tonne delivered for HMS 80:20 grade. 

The rise in scrap prices, coupled with low rebar prices, is squeezing billet producers' margins in the Saudi market.

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