Rebar prices continued their continuous decline after a wave of increases, the largest in iron prices in the Kingdom during the past three years. The lowest decline in rebar prices during January was 14.5% for 8 mm national rebar, whose price fell from 3212.92 riyals in January 2023 to 2747.05 riyals in January 2024. A difference of 466 riyals from its previous price. Recent data from the Saudi Contractors Authority showed that the average decline in rebar prices during the year amounted to 12.45%, falling from 3287.43 riyals to 2878.09 riyals, with a price difference of 409 riyals over last year’s average.
Average prices and monthly and annual changes in the Kingdom of Saudi Arabia (January 2024)
Item | Unit | Jan. 24 | Dec. 23 | %Change | Jan. 23 | %Change |
Rebar 6 mm National | 1 ton | 3,935.23 | 3,974.69 | -0.99 | 4,284.07 | -8.14 |
Rebar 8 mm National | 1 ton | 2,747.05 | 2,769.66 | -0.82 | 3,212.92 | -14.5 |
Rebar 10 mm National | 1 ton | 2,799.61 | 2,816.41 | -0.6 | 3,258.84 | -14.09 |
Rebar 12 mm National | 1 ton | 2,664.66 | 2,269.49 | -0.18 | 3,063.65 | -13.02 |
Rebar 14 mm National | 1 ton | 2,659.8 | 2,665.16 | -0.20 | 3,064.49 | -13.21 |
Rebar 16 mm National | 1 ton | 2,667.6 | 2,671.89 | -0.16 | 3,063.73 | -12.93 |
Rebar 18 mm National | 1 ton | 2,672.7 | 2,676.5 | -0.14 | 3,064.31 | -12.78 |
Average | 1 ton | 2,878.09 | 2,891.97 | -0.69 | 3,287.43 | -12.45 |