Saudi Arabia’s Saudi Iron and Steel Company (Hadeed) has increased prices for its long steel products for April deliveries.
Its rebar prices (12-32 mm) have been raised by SAR 100 (USD 27) to SAR 2,460 (USD 656) per ton. Wire rod prices (6.5-14 mm) have also increased by SAR 100 to SAR 2,450 (USD 653) per ton.
Above prices are on a CPT Riyadh basis and exclude the 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