06
Oct
14:29
Sabic reduces prices further to shift stock
Saudi Iron and Steel Company (Hadeed) has decreased its rebar price by SAR 150/tonne ($40/t) in response to the further decline in Turkish-origin rebar offers since the producer’s last price reduction in August, market participants tell Kallanish.
The latest move brings the total reduction in the steelmaking subsidiary of Sabic’s rebar price to SAR 350/t since August, and almost wipes out the combined SAR 400/t hike implemented in April. Turkish…
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Anonymous
Very good overview of the weekly steel market.
Anonymous