Saudi Arabian producer Hadeed has recently increased its domestic wire rod prices, supported by some revival of trade due to seasonal factors. The producer has raised its offers for October production by $26/mt (SAR 100/mt) compared to last month to $573/mt (SAR 2,150/mt) CPT. The prices will be valid starting from October 1, SteelOrbis has learned.
The suppliers of import wire rod are expected to increase their offers in line with the local trend in Saudi Arabia. The latest prices from Egypt have been voiced at $535-540/mt CFR Jeddah for end of October-November shipments.
$1 = SAR 3.75