Launch of steel billet, import, cfr Saudi Arabia, price assessment

Fastmarkets has launched the monthly price assessment for steel billet, import, cfr Saudi Arabia, to reflect the increasing volume of billet imports into Saudi Arabia, where steel demand was expected to improve due to large infrastructure projects such as the football World Cup 2034 and Saudi Expo 2030.

Currently, Saudi Arabia has capacity for about 14.5 million tonnes per year of long steelmaking, and only about 9.5 million tpy of billet-making capacity, according to information from the Arab Iron & Steel Union.

MB-STE-0940 Steel billet import, cfr Saudi Arabia, $ per tonne
Quality: 150x150mm, 12m, 3sp
Quantity: up to 50,000 tonnes from China, 15,000-20,000 tonnes from GCC region
Location: cfr Saudi Arabia
Timing: minimum 4 weeks
Unit: USD per tonne
Payment terms: LC at sight
Publication: Monthly, last Monday of the month, 2-3pm London time.

This price will be a part of the Fastmarkets Steel Physicals package.

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Ivelina Nikolova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ivelina Nikolova, re: Steel billet, import, cfr Saudi Arabia, $ per tonne.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to this link.