Posted on 22 Jan 2026
Saudi buyers are moving to secure imported billets before prices reach targeted levels of around $465/tonne cfr liner out, Kallanish notes.
Meanwhile, Far Eastern billet offers are fluctuating as domestic rebar and scrap prices continue to rise on the back of solid demand in the central region (Riyadh) and the eastern coast (Dammam).
Last week, two parcels of 50,000 tonnes of ex-China 150mm square billet with a minimum manganese content of 0.6% were booked at $475/t cfr liner out to Saudi west coast ports for end-March shipment.
As of 21 January, prices had eased to around $473/t cfr for the same specifications for April shipment, with two additional enquiries of 50,000t each in the market. Buyers are targeting levels of $470–472/t cfr, which market participants say could trigger further transactions.
Meanwhile, Russian billet offers for similar specifications were heard at $436–440/t fob, although suppliers reportedly withdrew offers on Tuesday.
Scrap availability has tightened in the Jeddah area as suppliers target further price increases following Hadeed’s SAR 40/tonne ($10.6) scrap price rise earlier in the week. To avoid production disruptions, some mills raised their buying prices by SAR 10–20/t from last week.
In Jeddahi, resized heavy melting scrap (70% heavy, 30% light) is assessed at SAR 1,330–1,340/t, while mixed oversize scrap (up to 50% heavy and 50% light) is priced at around SAR 1,260–1,270/t. Oversize rebar scrap from demolition sites is available at SAR 1,360/t, with bundled rebar scrap heard at SAR 1,375–1,400/t.
In the central region, scrap prices are largely unchanged at SAR 1,400–1,430/t, although dealers are pushing for increases of SAR 10–20/t. In Dammam, scrap prices for all grades rose by SAR 30–40/t to SAR 1,370–1,390/t for HMS.
Local 130mm billet remains available at SAR 1,840–1,870/t ex-works on a cash basis.
Source:Kallanish
