Saudi Arabian rebar demand maintains its strength

In the Saudi Arabian domestic market, state-controlled retail prices for rebar have 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 theoretical weight basis.
 
Demand for rebar in the Saudi Arabian market has remained high as expected and is expected to reach its highest level for 2012 in the first quarter of this year. New construction projects are planned to be launched in the country on the back of economic prosperity, coupled with state support, and are foreseen to result in a gradual increase in demand.
 
Local rebar prices in the local market are not expected to change unless a steep decrease is observed in global market prices.
 
$1 = SAR 3.750