SteelOrbis has been informed that Saudi Arabia-based Saudi Basic Industries Corporation (SABIC) has issued its wire rod prices for the domestic market at SAR 1,825/mt ($487/mt) delivered, for April deliveries. Saudi buyers seem satisfied with the local producer's wire rod offers, since wire rod offers from China to the Saudi Arabian market are at $430-450/mt CFR, while Chinese wire rod is sold at $470-490/mt delivered in the Saudi Arabian market.
$1 = SAR 3.75