According to market sources, the price range in the local Saudi Arabian
rebar market, where demand has weakened due to decreasing oil prices, has widened significantly.
Rebar offers from small producers to the local market for lower quality products begin at SAR 1,800/mt ($480/mt) delivered on the lower end, while
rebar offers from big producers have reached SAR 2,350/mt ($627/mt) delivered.
Meanwhile, market sources report that prices of positions for previously imported Turkish
rebar in Saudi Arabia are at SAR 1,900/mt ($507/mt) delivered. For now, most Saudi market players are avoiding concluding
rebar deals especially for large volumes, as they do not have much confidence in the outlook for the market.
$1= SAR 3.75