Saudi Arabia’s Hadeed has carried out a fourth upward revision to its April pricing, an unusually frequent adjustment considering that mills typically update prices once per month. The repeated increases this month highlight the intensity of cost pressures, primarily driven by tighter raw material supply and persistently elevated energy costs amid the ongoing geopolitical situation. While other domestic producers and the retail segment have not yet fully mirrored this latest move, market expectations remain firm that the upward trend will extend across the supply chain in the coming period.
Under the latest revision, rebar prices have been increased by SAR 160/mt, reaching $746/mt (SAR 2,800/mt) CPT, compared to $704/mt (SAR 2,640/mt) CPT previously. At the same time, wire rod and coil prices have been raised by SAR 160/mt, bringing levels to $744/mt (SAR 2,790/mt) CPT, up from $701/mt (SAR 2,630/mt) CPT recorded after the prior adjustment.
All prices exclude 15 percent VAT.
$1 = SAR 3.75
