Saudi Iron and Steel Company (Hadeed) has reduced its rebar prices, citing weak sales as the reason.
The price for rebar (12-32 mm) has been cut by SAR 40 (USD 11) per ton to SAR 2,370 (USD 631) per ton. However, wire rod prices (6.5-16 mm) remain unchanged at SAR 2,535 (USD 675) per ton.
The above prices are on CPT Riyadh basis and without 15 pct VAT.
1 USD / 3.75 SAR