Saudi Arabia’s largest steel producer and market leader, Hadeed, has announced its long steel prices for March production, implementing a further increase in the rebar segment while keeping wire rod prices unchanged. Market participants indicate that the adjustment had already been signaled in February, as production shortages and strong underlying demand supported the move. Consequently, the upward momentum in rebar has continued, backed by tighter availability and steady bookings for March output, with demand seen to be remaining firm in the near term, whereas the wire rod segment has entered a phase of stabilization despite the strengthening trend observed in rebar.
According to the announcement for March production, Hadeed has increased its rebar price to $630/mt (SAR 2,260/mt) CPT, marking a $26/mt (SAR 100/mt) rise compared with the previous month.
In contrast, no price revision has been recorded in the wire rod segment, where quotations have remained stable over the past month at $610/mt (SAR 2,290/mt) CPT.
Meanwhile, other major domestic producers, including Al Yamamah and Al Ittefaq, have yet to announce their March prices, though market sources expect their offers to follow shortly and likely align with Hadeed’s direction, given its benchmark position in the local market.
All prices exclude 15 percent VAT.
$1 = SAR 3.75
