This week, a rolling mill in the United Arab Emirates conducted a billet inquiry for 15,000 tons of 130mm 3sp (grade SAE 1018) targeting $565-570 per ton delivered to its site for fast shipping.
Iranian electric arc furnace billet is offered at $550-555/ton delivery in UAE and Oman for mid/end May shipment.
Domestic scrap prices in the UAE remained stable at AED 1,400-1,425/tonne ($381-388) delivered for HMS 1/2 80:20 grade.
Local induction furnaces in Jeddah, Riyadh and Dammam are offering 130/150mm 4sp billet at SAR 2,050-2,100/t ($547-560) ex-works.
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