Rebar demand still strong in Saudi Arabia despite approach of Ramadan

In the Saudi Arabian domestic rebar market, state-controlled rebar prices have not shown any changes as compared to previous weeks, with retail prices for rebar remaining at SAR 2,900/mt ($773/mt) ex-warehouse.
 
Even though rebar demand has remained at high levels in Saudi Arabia, the local construction sector is expected to show some slight softening with the approach of Ramadan.
 
Meanwhile, the latest rebar offers from Turkey to the Saudi Arabian market are standing at $615-620/mt CFR on theoretical weight basis and for July shipments, though no deals have been concluded at the price levels in question yet.
 
$1 = SAR 3.750