The increasing uncertainty in the semi-finished products sector – the billet – due to the lack of supply and the increase in international prices led to a review of rebar prices in the Kingdom of Saudi Arabia along with the local construction activity.
As of March 1, SABIC Steel announced a price increase of 50 riyals per ton ($13 per ton) for rebar and 100 riyals per ton ($27 per ton) for wire coil, compared to the previous month.
The 8-32 mm steel rebar will be priced at SAR2,800/ton ($747/ton), while the 9mm coil of wire will be delivered at SAR3,050/ton ($813/ton).
High billet prices are one of the main drivers of the upward trend in prices due to the military invasion of Ukraine and supply uncertainty.
Prices are indicated without 15% VAT
1 dollar = 3.75 Saudi riyals
