Saudi Arabia’s largest steel manufacturer and market leader Hadeed has decided to maintain its long steel pricing unchanged for April production. According to market reports, trade for long products in the country has remained slow due to the Ramadan period but, overall, the sales dynamics have been moderate.
As a result, Hadeed’s 12-32 mm rebar pricing for April production remains stable at $627/mt (SAR 2,350/mt) CPT from the previous month. Similarly, the price of rebar in coils is stable at $619/mt (SAR 2,320/mt) CPT compared to the previous month. The company has decided to keep wire rod prices stable at $632/mt (SAR 2,370/mt) CPT.
Meanwhile, another significant local longs producer, Al Yamammah, has issued a domestic rebar offer at $608/mt (SAR 2,280/mt) ex-works.
All prices exclude 15 percent VAT.
$1 = SAR 3.75