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Saudi Arabia’s Saudi Iron and Steel Company (Hadeed) has kept its domestic rebar prices unchanged for September production, while raising wire rod prices by SAR 100-125 (USD 27-33) per ton.
Hadeed is offering 12-32 mm rebar at SAR 2,800 (USD 746) per ton CPT Riyadh, excluding 15pct VAT. For 7-12 mm wire rod, the company raised prices by SAR 100 to SAR 2,950 (USD 787) per ton CPT Riyadh, while 5.5-6.5 mm wire rod increased by SAR 125 to SAR 3,025 (USD 807) per ton.
As reported by MESTEEL last week, billet availability in Saudi Arabia remains tight, with buyers facing difficulties securing imported material amid vessel availability, freight and delivery disruptions. Some locally available billet was commanding a premium for immediate requirements.
Market insiders described Saudi rebar demand as normal, while the tight billet supply continues to provide cost support. Hadeed’s decision to keep rebar prices unchanged suggests that higher input costs have not been fully passed through to finished long steel prices.
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.
1 USD / SAR 3.75