Saudi Arabia’s largest steel producer and market leader Hadeed has announced its long steel prices for January production. According to the company’s statement, sustained strength in construction and related business activities has supported a further month-on-month increase in rebar prices. Rebar demand remains robust, prompting the latest price adjustment. In contrast, prices for rebar in coils and wire rod have remained unchanged, reflecting stable yet firm demand conditions in these product segments.
Rebar prices have increased to $584/mt (SAR 2,190/mt) CPT, marking a rise of $18/mt (SAR 70/mt) from the previous month. Meanwhile, rebar in coil prices have remained stable at $605/mt (SAR 2,270/mt) CPT on a month-on-month basis.
The wire rod segment has followed a similar trend, with prices remaining steady over the past month at $605/mt (SAR 2,270/mt) CPT.
Other major Saudi producers, including Al Yamamah and Al Ittefaq, are yet to announce their January pricing. However, consistent with historical market behavior, these producers are expected to align their offers with Hadeed’s pricing direction, given its dominant position in the domestic steel market.
All prices exclude 15 percent VAT.
$1 = SAR 3.75
