Saudi Arabian wire rod demand remains strong

In the Saudi Arabian rebar and wire rod market, Turkish and Egyptian producers are influential in the west of the country, while Emirates Steel and some other producers from the Gulf region are dominant in central and eastern Saudi Arabia.
 
SteelOrbis has learned from market sources that Turkish wire rod offers to Saudi Arabia are standing at $720/mt CFR, though no transaction has been concluded at this price range so far.
 
It is reported that wire rod demand in Saudi Arabia is strong in general. However, since buyers have sufficient inventories for the next couple of months, they are not inclined to book new material.