Saudi Arabia’s Hadeed has carried its upward pricing momentum into May, announcing a fresh increase for long steel products following a series of revisions seen throughout April. The continuation of hikes into a new production month underscores the persistence of cost-side pressure, with tight raw material supply and elevated energy costs continuing to shape the mill’s pricing strategies. Despite already elevated levels, the latest move signals that the upward trend has not yet run its course.
With the new revision, effective for deliveries starting from May 1, rebar prices have been increased by SAR 100/mt to $773/mt (SAR 2,900/mt) CPT, while wire rod and coil prices have also been raised by SAR 100/mt, reaching $771/mt (SAR 2,890/mt) CPT.
In the import segment, around 50,000 mt of Chinese origin wire rod is rumored to have been sold to Jeddah at approximately $555/mt CFR, a level considered notably low for wire rod under the current market conditions, though no official confirmation has been heard.
All prices exclude 15 percent VAT.
$1 = SAR 3.75
