Latest situation in Saudi Arabian rebar market

Wednesday, 07 January 2015 16:45:10 (GMT+3)   |   Istanbul
       

According to market sources, rebar prices in the Saudi Arabian market are currently in the range of SAR 2,498-2,513/mt ($666-670/mt) delivered to customer.
 
Market sources state that prices of HMS I scrap in Saudi Arabia are on the low side at $266/mt ex-warehouse and that local rebar prices may be reduced accordingly. Even though demand has been weak in the local Saudi Arabian rebar market due to year-end considerations and the New Year holiday period, rebar consumption is expected to increase on the back of upcoming construction projects.
 
$1 = SAR 3.75

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