Being supported by the rapid rise in raw materials tags around the world, Saudi Iron and Steel Company (Hadeed SABIC) increased official offers for January long steel products. The ongoing global upward trend will likely trigger another price revision shortly.

Hadeed SABIC announced new prices for January longs sales, increasing them by SAR 200/t ($53/t). Rebar is currently available at SAR 2,650/t ($707/t) delivered, while 9 mm wire rod at SAR 2,550/t ($680/t) delivered. The new offers will be effective from December 16, 2020.

Prices are indicated without 15% VAT.

Currency rate $1 = SAR 3.75.