Saudi Iron and Steel Company (Hadeed) will reduce its long steel prices for October deliveries due to sluggish demand, according to market insiders.
The company plans to lower the price of rebar (12-32 mm) by SAR 70 ($19) per ton, bringing the new price to SAR 2,300 ($613) per ton.
Similarly, the price of wire rod (6.5-16 mm) will drop by SAR 70 ($19) per ton to SAR 2,365 ($630) per ton.
Above prices are on a CPT Riyadh basis, excluding the 15% VAT.
1 $ = 3.75 SAR
Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.
It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.
Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.
General Secretariat
Tel +21320343324 – +21320343357
Fax +21320343194
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
