Domestic HMS I/II 80:20 scrap prices in the western regions of Saudi Arabia have increased slightly compared to the price levels recorded on June 1 to SAR 700-750/mt ($187-200/mt) ex-yard, while prices for the same material in eastern Saudi Arabia have remained stable during the given period at SAR 900/mt ($240/mt) ex-yard.
Meanwhile, Saudi Arabian buyers have exerted downward pressure on import billet prices following the $10/mt fall recorded in Chinese billet quotations last week. Domestic scrap prices in Saudi Arabia are directly influenced by import billet offers, and so they are expected to decline in the coming period.
$1 = SAR 3.75