Saudi Arabia’s Saudi Iron and Steel Company (Hadeed) increased domestic prices for its long steel products for May production, marking its second price revision this month.
The company raised rebar (12-32 mm) prices by SAR 30 (USD 8) per ton to SAR 2,930 (USD 781) per ton. Wire rod (7-14 mm) prices were also increased by SAR 30 (USD 8) per ton to SAR 2,980 (USD 795) per ton.
Hadeed has revised prices multiple times since April amid continued cost pressures linked to regional supply chain and logistics disruptions.
The prices are on a CPT Riyadh basis, excluding 15pct VAT.
Hadeed is the GCC’s major steel producer with an annual capacity of 3.8 mln tons of long products and 2.2 mln tons of flat products. The company was acquired by the Public Investment Fund in May 2024.
1 USD / 3.75 SAR