The rebar market in the Kingdom of Saudi Arabia witnessed a decline in prices in 2023 compared to the year 2022, as the price of a ton of rebar in December reached 2891.97 riyals, a decline of 18 riyals, a decline of 0.6% compared to the month of November, and a decline of 13.1% compared to the month of December 2022.
The average price of a ton of rebar in the Kingdom, according to monitoring by the Arab Iron and Steel Union based on data from the General Authority for Statistics, reached the level of 2,995.54 riyals per ton in 2023, a decrease of 686.21 riyals, a decline of 18.3% compared to the average in 2022, which amounted to 3,681.76 riyals per ton.
The lowest price of rebar in 2023 in Saudi Arabia was 2874.45 riyals per ton during the month of July, and the highest price was 3287.43 riyals per ton during the month of January.
Since the beginning of 2023, the average price of a ton of iron in the Kingdom has decreased by 395.46 riyals, a decline of 12.0% at the end of last December.
Average iron prices in the Kingdom of Saudi Arabia during the year 2022-2023
| Month | 2022 | 2023 | Change Y-Y |
| Jan. | 3,579.67 | 3,287.43 | -8.20% |
| Feb. | 3,591.70 | 3,170.95 | -11.70% |
| Mar. | 3,747.95 | 3,132.27 | -16.40% |
| Apr. | 4,292.81 | 3,108.30 | -27.60% |
| May | 4,278.38 | 3,009.56 | -29.70% |
| Jun. | 3,938.42 | 2,887.52 | -26.70% |
| Jul. | 3,802.88 | 2,874.45 | -24.40% |
| Aug. | 3,502.29 | 2,883.24 | -17.70% |
| Sep. | 3,310.33 | 2,891.18 | -12.70% |
| Oct. | 3,406.11 | 2,900.53 | -14.80% |
| Nov. | 3,402.80 | 2,909.13 | -14.50% |
| Dec. | 3,327.76 | 2,891.97 | -13.10% |
| Average | 3,681.76 | 2,995.54 | -18.60% |
