The Saudi Arabian domestic
rebar market has maintained its liveliness as expected, with local
rebar demand reported to be strong. In line with the healthy economic situation in the country, demand is foreseen to continue rising throughout 2012.
In the meantime, retail prices for
rebar in the Saudi Arabian market has remained at SAR 2,900/mt ($773/mt) and wholesale
rebar prices are still at SAR 2,800/mt ($746/mt) - both ex-works and on a theoretical weight basis. These state-controlled prices are not expected to change in the foreseeable future.
$1 = SAR 3.750