Saudi Arabia’s Saudi Iron and Steel Company (Hadeed) has maintained its domestic prices for long steel products for August production, as weak demand and prevailing uncertainty over regional logistics continue to cloud the market outlook.
The company is offering 12-32 mm rebar at SAR 2,800 (USD 746) per ton CPT Riyadh and 7-12 mm wire rod at SAR 2,850 (USD 760) per ton CPT Riyadh, both excluding 15pct VAT.
Despite stable domestic prices, buyers remained cautious amid uncertainty over regional shipping conditions, with higher freight rates and war-risk insurance premiums continuing to weigh on market sentiment.
Hadeed is the GCC’s largest steel producer, with an annual production capacity of 3.8 mln tons of long products and 2.2 mln tons of flat products. The company has been owned by Saudi Arabia’s Public Investment Fund (PIF) since May 2024.
USD 1 / SAR 3.75