Saudi HMS 1&2 scrap reached approximately $477 per tonne on August 11.
Restricted pellet and DRI imports forced steelmakers to increase scrap consumption.
Saudi imports of DRI, pellet and iron ore fell by 41.9% year on year.
Scrap imports also declined by 75.9% during the first five months of 2026.
High raw-material costs and weak rebar sales are severely pressuring mill margins.
