Saudi Arabia’s largest steel producer and a market leader, Hadeed, has recently issued its rebar and wire rod offer prices for February production to the domestic market.
Accordingly, having continued to benefit from firm demand locally, Hadeed has announced a $26/mt (SAR 100/mt) increase in its wire rod price compared to the previous round of offers, SteelOrbis has learned. As a result, the company’s 6.5-14 mm wire rod is now available at $773/mt (SAR 2,900/mt) CPT. Meanwhile, its 16-32 mm rebar price has remained at $747/mt (SAR 2,800/mt) CPT, unchanged from the previous level. Al Yamammah’s rebar is currently available at $720-733/mt (SAR 2,700-2,750/mt) CPT, SteelOrbis has learned.
Fresh offers of wire rod produced by the Emirati producer Emirates Steel Industries (ESI) to Arabian customers have been voiced at $760/mt CPT.
All prices exclude five percent VAT.
$1 = SAR 3.75