Saudi scrap prices increased as mills competed for limited supplies and faced restricted DRI availability.
The Riyadh sheared HMS 1&2 index rose to SAR 1,850 per tonne delivered on October 20.
Jeddah’s HMS 1&2 index increased to SAR 1,806.07 per tonne.
The national composite reached SAR 1,847.02 per tonne, up SAR 10.43 week on week.
Scrap demand remained supported, although weak rebar demand and customer liquidity constrained mills.
