Saudi billet slides amid scrap supply squeeze
Release Date:
2025-10-10
Saudi Arabian billet prices have seen a marginal reduction of SAR 20-30/tonne ($5-8) to SAR 1,780-1,810/t ex-works nationwide.
A Dammam-based induction furnace-route mill offered 130mm 3sp billet at SAR 1,820/t delivered within Dammam, equivalent to SAR 1,800/t ex-works, while another offered the same grade at SAR 1,820/t delivered to Riyadh, netting back to SAR 1,780/t ex-works, Kallanish notes.
Imported billet from the Far East is quoted at $460/t cfr Saudi west coast ports for a 52,000-tonne parcel for 150mm 4sp (0.6% manganese) for November load-readiness.
Meanwhile, local scrap prices in Riyadh and Dammam have declined by SAR 30-50/t amid tight availability. Scrap yards are reporting a minimum 50% drop in inflows following recent police crackdowns triggered by a series of copper cable thefts about a month ago.
On the west coast, major scrap consumer Al Rajhi Steel has kept its scrap procurement prices unchanged – bundled rebar scrap at SAR 1,450/t delivered and HMS at SAR 1,400/t delivered. This is despite lowering its October rebar list price by SAR 60/t from September to SAR 2,020/t delivered.
West coast induction furnace route mills are aiming to push prices down by SAR 75/t, but scrap dealers are holding prices at SAR 1,360/t for HMS 60/40, also known as resized HMS or oversized rebar scrap (unpressed). Oversized material (minimum 60% heavy) is at SAR 1,255/t.
In Riyadh, local scrap offers for PNS, shredded and HMS 2 are averaging at around SAR 1,400/t delivered, while in Dammam, prices are reported at SAR 1,370-1,380/t delivered.
From: Kallanish
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