It is expected that the demand in the Kingdom of Saudi Arabia will witness a decline in demand for rebar due to the slowdown in construction activities in general with the reduction of working hours.

The average price level of rebar in Saudi Arabia decreased by 30-50 riyals per ton ($8-13 per ton) compared to the end of February.

Main producers are trying to meet customer demands by offering prices as follows: Al-Ettifaq Steel at a price of 2280-2285 riyals per ton ($608-609 per ton), Al-Rajhi Steel at a price of 2280 riyals per ton ($608 per ton), Al-Watania Steel at a price of 2250-2280 riyals per ton ($600-608 per ton), and Al-Yamamah Steel at a price of 2275 riyals per ton ($607 per ton).

Smaller suppliers are trading in the range of SAR 2,150-2,220/t (US$ 587-600/t) ex-works.

The retail sector is following a similar trend, with the supply range declining by SAR 50/t (US$ 13/t) over the same period.

Rebar of the above brands is available in the range of SAR 2,350-2,400/t (US$ 627-640/t), while other products are priced at SAR 2,220-2,320/t (US$ 592-619/t) ex-works.

The average rebar is trading at SAR 2,400-2,450/t (US$ 640-653/t).

With a significant increase in demand expected in the near term after the holy month of Ramadan.

Prices are exclusive of 15% VAT.

US$ 1 = SAR 3.75.