Seasonal factors and price disagreements stall GCC billet sales

The GCC market is witnessing a notable lack of interest among potential buyers, attributed in part to seasonal trends. Meanwhile, active suppliers in the market are attempting to implement price hikes in Asian markets. The ongoing standoff between buyers and sellers over pricing further complicates the situation. Notably, Saudi Arabia's billet offers have experienced a decline in prices, falling from a range of $506-513/ton EXW to $493-507/ton EXW in July. The region's bulk purchase of billets remains on hold due to an abundance of available stock.