SteelOrbis has been informed that the local offers for 8 mm rebar in the Saudi Arabian market are at the price level of SAR 5,400/mt ($1,440/mt), offers for 12 mm are at SAR 5,100/mt ($1,360/mt), while 16 mm and above are being offered at SAR 5,150/mt ($1,373/mt), delivered to customer, including five percent VAT, on a theoretical weight basis.
The end-user demand for rebars in the Saudi Arabian domestic market is currently at high levels. However, due to the fluctuation of price levels between decline and stability, local traders and big buyers in this market have been hesitating to make purchases and are only buying according to their needs instead.