Saudi Arabian rebar demand maintains its strength

Saudi Arabian rebar producers have filled their order books from orders coming from the domestic market, where rebar demand is still strong. The positive market outlook created by the government budget allocated for large scale construction projects continues in Saudi Arabia and construction projects maintain their pace.
 
In the Saudi Arabian domestic market, state-controlled retail prices for rebar have remained at SAR 2,900/mt ($773/mt) and wholesale rebar prices are still at SAR 2,800/mt ($747/mt) - both ex-works and on theoretical weight basis.
 
The Saudi Arabian rebar market has been receiving offers from Turkey, Egypt, Qatar and Dubai, with latest offer prices standing at $670-680/mt CFR Jeddah, while Ukrainian rebar offers to Saudi Arabia are at $655-665/mt CFR.
 
$1 = SAR 3.750