Latest situation in local Saudi Arabian wire rod market

According to market sources, prices in the local Saudi Arabia wire rod market are at SAR 1,825-1,850/mt ($487-493/mt) ex-works, while Chinese wire rod offers to the country are at SAR 1,470-1,570/mt ($392-419/mt) CFR. Also, ex-UAE wire rod offers to Saudi Arabia are at SAR 1,800-1,850/mt ($480-493/mt) CFR. Market sources state demand for domestic and import wire rod is quite weak in the Saudi Arabian market.
 
$1 = SAR 3.75