Saudi Iron and Steel Company (Hadeed) announced an increase in rebar prices for January sales, while maintaining wire rod prices at their current levels.
According to the company, rebar prices for sizes 12–32 mm were raised by SAR 70 per ton, reaching SAR 2,190 per ton.
Meanwhile, wire rod prices for sizes 6.5–16 mm remained stable at SAR 2,270 per ton.
Hadeed clarified that the announced prices are based on CPT Riyadh terms and exclude the 15% value-added tax (VAT).
Hadeed is the largest steel producer in the GCC, with an annual production capacity of 3.8 million tons of long products and 2.2 million tons of flat products.
USD 1 = SAR 3.75