SteelOrbis has been informed that local offers for 8 mm rebar in the Saudi Arabian market are at the price level of SAR 2,250/mt ($601/mt), offers for 12 mm are at SAR 2,030/mt ($542/mt), while 16 mm and above are being offered at SAR 1,980/mt ($529/mt). All offers are ex-works, excluding VAT and on a theoretical weight basis.
In the Saudi Arabian domestic market, local production rebar prices have shown no change as compared to last week. However, end-user demand is sluggish at the moment. It is known that domestic prices in Saudia Arabia are at high levels compared with the international markets, while it is observed that sometimes lower price levels are available from local traders.