Saudi Arabian
rebar producers have filled their order books from orders coming from the domestic market, where
rebar demand is still strong. The positive market outlook created by the government budget allocated for large scale construction projects continues in Saudi Arabia and construction projects maintain their pace.
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 ($747/mt) - both ex-works and on theoretical weight basis.
The Saudi Arabian
rebar market has been receiving offers from
Turkey,
Egypt,
Qatar and Dubai, with latest offer prices standing at $670-680/mt CFR Jeddah, while Ukrainian
rebar offers to Saudi Arabia are at $655-665/mt CFR.
$1 = SAR 3.750