Saudi rebar buyers cautious on concluding new transactions

Rebar retail prices in the Saudi Arabian domestic market are at SAR 2,900/mt ($773/mt) ex-warehouse, while wholesale prices stand at SAR 2,800/mt ($747/mt) ex-works.
 
Turkish rebar offers to the Saudi market, on the other hand, are ranging at $590-595/mt CFR, though in the past week 40,000-50,000 mt of rebar has been sold from Turkey to Saudi Arabia at $570-575/mt CFR. Meanwhile, Saudi buyers have remained cautious as regards concluding new deals and prefer to wait for the scrap and finished steel markets to gain a clearer trend.
 
$1 = SAR 3.75