SteelOrbis has been informed that the local offers for 8 mm rebar in the Saudi Arabian market are at the price level of SAR 2,130/mt ($568/mt), offers for 12 mm are at SAR 1,930/mt ($514/mt), while 16 mm and above are being offered at SAR 1,870/mt ($498/mt). All offers are ex-works, including five percent VAT, and on a theoretical weight basis.
The rebar prices in the local Saudi Arabian market have remained unchanged as compared to last week. End-users are gaining confidence with regard to the future market, as prices have been following a stable trend for five weeks.