Rebar prices decline in Saudi Arabia with the beginning of August

Saudi Iron & Steel Company (SABIC Hadeed) issued official prices for longs, decreasing them by SAR 100/t ($26.7/t). The 12‑14 mm rebar will be available at SAR 2,750/t ($733/t) delivered, while 16‑32 mm rebar at SAR 2,700/t ($720/t) delivered. The new offers will be effective from August 1. The wire rod 6.5 mm and above wire rods will be available at SAR 2,800/t ($747/t) delivered. Prices are indicated without 15% VAT. Currency rate: $1 = SAR 3.75