Saudi Arabia’s largest steel producer and market leader, Hadeed, has announced domestic rebar and wire rod offer prices for September production, keeping its prices stable for the fourth consecutive month, reflecting steady but slow demand in the local market. According to market participants, the stable and slow demand is why any immediate price adjustments would be unlikely to be successful.
For September output, Hadeed has kept its rebar prices unchanged at $568/mt (SAR 2,130/mt) CPT, while offers for rebar in coils remain stable at $608/mt (SAR 2,280/mt) CPT, the same as in the previous month.
A similar trend has been observed in the wire rod segment, where prices for 6.5-14 mm material remain at $619/mt (SAR 2,320/mt) and 5-6 mm wire rod is still priced at $632/mt (SAR 2,370/mt).
Meanwhile, other local producers have not yet released their September prices but are widely expected to follow a similar pricing strategy.
All prices exclude 15 percent VAT.
$1 = SAR 3.75