Hadeed, one of Saudi Arabia’s major steel producers, has lowered prices for its long steel products for the second month in a row, reflecting ongoing market challenges. The reduction, effective for July output, comes amid continued weak demand, against the backdrop of seasonal slowdowns and persistent difficulties in debt collection. Despite the challenging market conditions, industry participants believe the situation is temporary. They remain optimistic, pointing to active construction projects and upcoming developments that are expected to support demand in the coming months.
In its latest adjustment, Hadeed has lowered its rebar prices for July to $568/mt (SAR 2,130/mt) CPT, down $26/mt (SAR 100/mt) from the previous month.
Similarly, rebar in coils is now priced at $608/mt (SAR 2,280/mt) CPT, a $18/mt (SAR 70/mt) decrease compared to June.
Meanwhile, wire rod prices show mixed trends compared to last month. While the price for 6.5–14 mm wire rod has dropped to $619/mt (SAR 2,320/mt) from $627/mt (SAR 2,350/mt), the price of 5-6 mm wire rod has increased to $632/mt (SAR 2,370/mt), up from $624/mt (SAR 2,340/mt) earlier.
All prices exclude 15 percent VAT.
$1 = SAR 3.75