SteelOrbis has been informed that prices in the local Saudi Arabian rebar market have remained unchanged over the past two weeks at SAR 2,000-2,100/mt ($533-560/mt) delivered, for August production. Meanwhile, demand has showed a slight recovery after weakening due to Ramadan.
Turkish rebar offers to the Saudi Arabian market have decreased by $110-15/mt over the past two weeks to the range of $410-415/mt CFR on theoretical weight basis, for September shipment. However, no Turkish rebar deals have been heard in this price range.
$1 = SAR 3.75