Latest situation in Saudi Arabian wire rod market

According to market sources, prices in the local Saudi Arabian wire rod market are at $480/mt delivered to customer, while Chinese wire rod offers to the country are at $385/mt CFR. Market sources state that demand for domestic and import wire rod is quite weak in the Saudi Arabian market. Also, Turkish wire rod producers do not have much of a presence in the Saudi Arabian market due to the attractiveness of Chinese wire rod offers.