Saudi Iron and Steel Company (Hadeed) announces a decrease in long steel prices for July

The Saudi Iron and Steel Company (Hadeed) has announced its long steel prices for July deliveries. The company's rebar prices have been reduced by SAR 100 (USD 27) per ton, bringing the new rate to SAR 2,130 (USD 566) per ton. Wire rod (6.5-16 mm) saw a smaller reduction of SAR 30 (USD 8) per ton, bringing the new price to SAR 2,320 (USD 617) per ton. Above prices are on a CPT Riyadh basis, excluding 15% VAT. 1 USD = 3.75 SAR