KSA’s Hadeed drops local wire rod price
Saudi Iron & Steel Company (Hadeed), the key steel manufacturer in KSA, recently dropped its local prices for wire rod.
Hadeed decreased its domestic wire rod price by SAR 100/t from the midMarch level to SAR 2,300/t CPT Riyadh, only 9 mm product lost SAR 150/t to SAR 2,250/t CPT,.
As a result, the supplier’s wire rod is available for KSA buyers at $613/t CPT and $600/t CPT respectively. In the meantime, Hadeed’s rebar price remains stable at $640/t (SAR 2,400/t) CPT and quite high compared to the global tags.
“Demand is improving, it is better than it was last year. But for sure there is a long way to go,” a local producer said.
The prices are indicated without 5% VAT. Rate $1 = SAR 3.75.