SteelOrbis has been informed that demand in the local Saudi Arabian rebar market has weakened slightly in the past two weeks due to Ramadan, but is still at medium levels. Meanwhile, prices in the local Saudi Arabian rebar market have decreased by SAR 190/mt ($51/mt) on average over the past two weeks to SAR 2,000-2,100/mt ($533-560/mt) delivered, for June production.
Turkish rebar offers to the Saudi Arabian market have decreased by $10/mt over the past two weeks to the range of $440-445/mt CFR on theoretical weight basis, for August shipment. However, no Turkish rebar deals have been concluded in this price range since Saudi buyers still prefer to meet their needs from their domestic market.
$1 = SAR 3.75