SteelOrbis has been informed that the local offers for 8 mm rebar in the Saudi Arabian market are at the price level of SAR 2,280/mt ($609/mt), offers for 12 mm are at SAR 2,080/mt ($555/mt), while 16 mm and above are being offered at SAR 2,000-2,020/mt ($534-540/mt). All offers are ex-works, including five percent VAT, and on a theoretical weight basis.
Prices have remained unchanged as compared to last week, while it is seen that end user demand is not at low levels in the Saudi Arabian domestic rebar market.
US$1 = SAR 3.74384