Following the announcement of another price increase over the past month by the country’s largest steel producer and key domestic price setter, Hadeed, the Saudi rebar market has continued to demonstrate a firm upward trajectory. In response, local retailers have adjusted their offer levels upward in line with the latest producer-led pricing movement. The prevailing uptrend has been further reinforced by sustained domestic demand, underpinned by the continuation of major infrastructure and construction projects across the Kingdom. Against this backdrop, market participants remain optimistic regarding the price direction in the coming months. In addition to firm domestic fundamentals, Saudi suppliers have also remained active in the export market, continuing to place limited volumes with buyers in the UAE over the past month.
Currently, Hadeed, Saudi Arabia’s largest steel producer, is offering retail rebar at $584/mt (SAR 2,190/mt) CPT, marking an increase of $18/mt (SAR 70/mt) for January production. Among secondary producers, Al Ittifaq has raised its January rebar prices to $568-570/mt (SAR 2,130-2,140/mt) CPT, up from $557/mt (SAR 2,090/mt) CPT last month. Similarly, Rajhi Steel has increased its prices to $570-572/mt (SAR 2,140-2,145/mt) CPT, compared with $560/mt (SAR 2,100/mt) CPT previously.
In the retail segment, traders have also adjusted their January offers upward to $538-550/mt (SAR 2,020-2,060/mt) CPT, compared with $533-544/mt (SAR 2,000-2,040/mt) CPT in the previous month.
On the export side, Saudi suppliers have remained active, with rebar offers to the UAE reported at around $620-630/mt (SAR 2,325-2,362/mt) CPT. According to sources, approximately 15,000 mt has been sold by one of the major secondary mills at the lower end of this range. Meanwhile, Hadeed has been offering rebar to the UAE at $630/mt (SAR 2,362/mt) CPT, although no confirmed transactions have been reported so far.