SteelOrbis has been informed by market sources that wire rod offers in the Saudi Arabian domestic market, where demand has remained strong, are standing at SAR 2,250/mt ($680/mt) ex-works. Market insiders indicate that competition among mills in the local market has intensified, while negotiations on prices have increased.
On the other hand, Egyptian wire rod offers to Saudi Arabia can be found at $595/mt CFR, while Chinese offers to the country stand at $535/mt CFR.
$1 = SAR 3.75
Competition intensifies in Saudi wire rod market
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