Rebar producers in Saudi Arabia have once again increased their domestic offers, mainly following the general global uptrend seen in the raw material and steel segments. In particular, following the start of Russia’s war against Ukraine, billet, scrap and pig iron supply will be limited, which has already been resulting in consistently rising prices for the mentioned products.
Saudi Arabia’s Hadeed, the largest rebar producer in the country, has increased its local rebar prices by $53/mt (SAR 200/mt) to $800/mt (SAR 3,000/mt) CPT, SteelOrbis has learned. The new offer is applicable for 12 and 14 mm only, most probably in view of the limited allocation of certain rebar sizes in the company’s stocks. In the meantime, local producer Al Yamamah has offered $813/mt (SAR 3,050/mt) CPT for all rebar sizes, applicable immediately.
$1 = SAR 3.75