In the Saudi Arabian
rebar market, demand has remained at good levels and this is also expected to persist in the coming period. Meanwhile, prices have not changed from their previous levels.
Accordingly, in the Saudi Arabian market retail prices for
rebar remain 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 a theoretical weight basis.
Rolling mills in Saudi Arabia are continuing to import steel
billet from
Turkey and the
CIS in order to meet domestic finished steel demand. In the meantime, Saudi traders have increased their
rebar inquiries, anticipating stronger demand in early 2012.
$1 = SAR 3.750