Saudi Arabia continues its billet purchases

This week, Saudi Arabian buyers have concluded their latest steel billet purchases ahead of the Ramadan holiday.
 
This week, in ex-CIS steel billet sales to Saudi Arabia totaling 100,000 mt for September shipments the price level was at $590/mt CFR Jeddah. In the meantime, while Turkish producers' steel billet export offers to Saudi Arabia are standing at $615/mt CFR, buyers in Jeddah state that they are ready to book material at $600/mt CFR.
 
As SteelOrbis previously reported, Saudi Arabia increased its steel billet imports from Turkey by 161 percent year on year in the first half of the current year.