Following the ongoing uptrend in the global steel market, Saudi Arabia’s largest steel producer and a market leader, Hadeed, has revised its offer prices for rebar and wire rod, effective for all new orders.
Accordingly, the company's 12-14 mm rebar is now available at $747/mt (SAR 2,800/mt) CPT, up $40/mt compared to the previous offers. Meanwhile, its wire rod price has also been voiced at $747/mt (SAR2,800/mt) CPT, rising by $67/mt (SAR 250/mt). Additional strong support for regional suppliers comes from a shortage of supply. Accordingly, Emirati producers Emirates Steel Industries (ESI) and Union Iron and Steel are already fully booked for January orders.
All prices exclude five percent VAT.
$1 = SAR 3.75