On December 1, Saudi Arabia’s largest steel producer and market leader, Hadeed, announced its long steel prices for December production. Supported by continued strong domestic demand and the ongoing momentum from major construction and infrastructure projects, the company has introduced another round of price increases this month. This marks the second upward adjustment for rebar in recent weeks, while its coil and wire rod prices have also risen in line with firmer market sentiment across Saudi Arabia.
As a result, rebar prices have increased to $565/mt (SAR 2,120/mt) CPT, representing a rise of $10/mt (SAR 40/mt) compared with last month. Similarly, rebar in coil prices have moved up to $595/mt (SAR 2,230/mt) CPT, reflecting a $5/mt (SAR 25/mt) month-on-month increase.
The wire rod segment has followed the same upward trend, with Hadeed’s prices climbing by $5/mt (SAR 25/mt) month on month to $605/mt (SAR 2,270/mt) CPT.
Meanwhile, other major Saudi producers, including Al Yamamah and Al Ittefaq, have not yet released their December offers. Market sources expect that their updates will be issued in the coming days and will likely align with Hadeed’s pricing direction, given its leading position in the domestic market.
All prices exclude 15 percent VAT.
$1 = SAR 3.75
