Saudi Arabia’s largest steel producer and market leader, Hadeed, has recently issued its rebar and wire rod offer prices for July production for the domestic market.
Accordingly, the company has announced a $27/mt (SAR 100/mt) increase in its rebar and wire rod prices compared to the previous round of offers. As a result, the company’s 16-32 mm rebar is now available at $827/mt (SAR 3,100/mt) CPT, while its 6.5-14 mm wire rod is offered at $880/mt (SAR 3,300/mt) CPT. However, in reality tradable prices are said to have declined. Specifically, in case of large orders, Hadeed is said to be ready to provide a discount, the size of which is even larger than the increase. Meanwhile, Al Yamammah’s rebar is currently available at $760/mt (SAR 2,850/mt) ex-works, SteelOrbis has learned. The domestic rebar offers of Saudi mill Rajhi Steel are said to be at about the same level, SteelOrbis has learned.
All prices exclude five percent VAT.
$1 = SAR 3.75