Asia billet prices rise, sources cite fire at Middle East steel mill

Billet spot prices in Asia are increasing on Friday December 15, with market participants citing a fire at an electric-arc furnace (EAF) mill in Saudi Arabia as a contributing factor.

“Prices have increased significantly overnight after news of the fire was heard by market participants late-Thursday,” a trader based in Indonesia said.
The fire is said to have happened at one of Saudi Iron & Steel Co (Hadeed)’s EAF mills, according to market sources.

Metal Bulletin could not verify this information because...

Published

Paul Lim

December 15, 2017

14:40 GMT

Singapore