Saudi Arabia continues its steel billet import activity

A major steel billet importer, Saudi Arabia is still a major focus for the main steel billet exporting countries. After two ex-Black Sea steel billet transactions to the country at $610-615/mt FOB last week, ex-Black Sea billet offers are currently standing at $610/mt FOB this week, while Turkish billet offers to Saudi Arabia are at $630/mt FOB. In the meantime, it is thought that, for orders in larger tonnages, transaction prices may be lower than these offer price levels.