Posted on 11 Mar 2025
Secondary and tertiary mills in Saudi Arabia have announced a month-on-month decrease in rebar prices ranging from SAR 30-70/tonne ($8-18.6/t) due to Ramadan, when working hours are shorter than usual, resulting in lower consumption and demand, Kallanish notes.
For March deliveries, secondary mills Al Ittefaq and Rajhi are pricing rebar at approximately SAR 2,280/t delivered, with payment terms set for LC 90 days. In Riyadh, the lowest rebar prices from smaller mills and suppliers eager to sell are reported at SAR 2,150-2,170/t ex-works payable cash or weekly.
Meanwhile, other suppliers in the country, Al Yamamah, Watania, Watani, are offering prices between SAR 2,250-2,275/t delivered in their production areas under the same payment terms.
In the wholesale market among traders, the benchmark mill's rebar prices have fallen to SAR 2,330-2,350/t on the low end for ex-works and on the high end for delivered prices.
In retail, benchmark mill's rebar is priced at SAR 2,360-2,380/t delivered, with cash payment required in both cases.
Elsewhere, Solb in Jazan is pursuing an ambitious wire rod sales policy at SAR 2,280/t delivered in Riyadh and on the west coast. Meanwhile, Far East origin wire rod offers are heard at $510-520/t cfr Dammam for May shipment.
All prices exclude 15% VAT.
The sovereign wealth fund, Public Investment Fund’s acquisition of a 30% stake in Masdar, one of the leading building materials distributors of the kingdom, continues to be a significant topic of discussion in the country.
Source:Kallanish
