Hadeed, Saudi Arabia’s largest steel producer and market leader, has announced unchanged domestic rebar and wire rod prices for May production. According to reports, long product trade in the country has remained similar to previous months, causing the producer to maintain prices unchanged from last month.
Consequently, over the past month, the company has decided to maintain rebar and wire rod prices unchanged at $626/mt (SAR 2,350/mt) CPT and $653/mt (SAR 2,450/mt) CPT for May production, respectively. Likewise, prices for rebar coils are unchanged at $653/mt (SAR 2,450/mt) CPT.
On the other hand, other producers have not disclosed their pricing but are anticipated to follow a similar price trend in the coming days.
$1 = SAR 3.75