Saudi Arabia’s General Authority for Statistics (GASTAT) has reported the price trends for key building materials in Q1 2024.
The average price of rebar decreased by 9.83pct to SAR 2,882.43 (USD 767) per ton from SAR 3,196.88 (USD 851) per ton in the same period last year. Saudi Iron and Steel Company (Hadeed) has maintained its rebar prices for August production at SAR 2,410 (USD 642) per ton for sizes 12-32 mm. These prices are on a CPT Riyadh basis and exclude 15pct VAT.
Other building materials showed varied trends: ready-mix concrete prices dropped by 2.5pct YoY, timber prices fell by 2.23pct YoY, cabling prices increased by 2.58pct annually, and cement prices rose by 1.21pct YoY in Q1 2024.
1 USD / 3.75 SAR
