The price level of 8-12 mm rebar in the local Saudi Arabia market is at SAR 3,000-3,290/mt ($801-878/mt) delivered to customer on theoretical weight basis, including five percent VAT.
The Saudi Arabian rebar producers have decreased their prices by around SAR 150/mt ($40/mt) in the past week. The rebar market in Saudi Arabia has been indicating a considerably strong performance; however, it is thought that the Saudi Arabian producers have moved to reduce prices due to the fact that the higher rebar prices in the local Saudi Arabian market were attracting the interest of Egyptian and Turkish producers.