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KSA’s Hadeed drops local wire rod price

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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.

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