According to market sources,
rebar retail prices in the local Saudi Arabia market are in the range of SAR 2,587-2,700/mt ($690-720/mt) ex-warehouse, while transaction activity is slack.
On the other hand, Turkish
rebar offers to Saudi Arabia have remained unchanged over the past week and are still in the range of $575-580/mt FOB, on actual weight basis.
Demand for
rebar imports is currently sluggish in the local Saudi Arabian market. Market sources state that import
rebar offers are more attractive than domestic
rebar prices and so demand for imported material is expected to improve in the coming days due to price advantage. Especially after the Feast of Sacrifice holiday in early October, transaction activity in the market is expected to strengthen and import
rebar purchases will likely accelerate further.