Market sources state that
rebar retail prices in the local Saudi Arabian market are now standing at SAR 2,306-2,494/mt ($615-665/mt) ex-warehouse, indicating a decline of SAR 100/mt ($27/mt) over the past month. Transaction activity in the Saudi
rebar market has remained on the poor side since last week, as no new big construction projects have been announced by the government due to the arrival of the summer.
Looking at the upstream cost side, bonus grade
scrap prices in the Saudi market are varying at SAR 1,275-1,444/mt ($340-385/mt) delivered.
$1 = SAR 3.75