The Saudi Iron and Steel Company (Hadeed) has increased long steel prices for December production.
The company’s rebar (12-32 mm) prices rose by SAR 40 (USD 10) to SAR 2,120 (USD 565) per ton, while wire rod (6.5-16 mm) prices were raised by SAR 25 (USD 6) to SAR 2,270 (USD 605) 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
