Saudi Arabia’s largest steel producer and market leader, Hadeed, has announced its April longs prices, marking an increase compared to the previous month, primarily driven by rising input costs. While geopolitical tensions across the GCC region continue to weigh on overall market sentiment, some aluminum plants in Bahrain and the UAE have reportedly been affected by recent attacks. However, no direct disruption has been observed in the Saudi market so far. Market participants indicate that demand remains relatively stable, with a more optimistic outlook in the retail segment, where further price increases are anticipated. Nevertheless, the upward price movement appears to be largely cost driven, reflecting elevated scrap and energy prices rather than a substantial improvement in underlying demand dynamics.
According to the announcement for April production, Hadeed has increased its rebar price to $656/mt (SAR 2,460/mt) CPT, marking a $26/mt (SAR 100/mt) rise compared to the previous month.
Similarly, in the wire rod segment, the same increase has been observed, with quotations rising by $26/mt (SAR 100/mt) month on month to $637/mt (SAR 2,390/mt) CPT.
At the same time, key local producers such as Al Yamamah and Al Ittefaq have not yet disclosed their April pricing. However, given Hadeed’s role as the primary price setter in the domestic market, industry sources widely expect these mills to adopt a similar pricing direction in the near term.
All prices exclude 15 percent VAT.
$1 = SAR 3.75
