Hadeed, Saudi Arabia’s largest steel producer and market leader, has announced its domestic rebar and wire rod offer prices for August production. According to the announcement, since demand has remained steady compared to the previous month, the producer has decided to keep long steel offers unchanged. Meanwhile, market players state that the general market outlook remains positive, supported by numerous projects that are ongoing and also expected. However, investments tied to these developments appear to be taking longer to translate into actual steel consumption.
As a result, for August output, Hadeed has maintained its rebar prices at $568/mt (SAR 2,130/mt) CPT, unchanged from the previous round of offers. Similarly, rebar in coils also remains stable at $608/mt (SAR 2,280/mt) CPT, the same as last month.
The wire rod segment has also shown similar stability. According to the announcement, for 6.5-14 mm wire rod prices remain at $619/mt (SAR 2,320/mt), and for 5-6 mm wire rod prices are unchanged at $632/mt (SAR 2,370/mt).
Other local producers have yet to announce their prices but are expected to adopt a similar pricing approach in the coming days.
All prices exclude 15 percent VAT.
$1 = SAR 3.75