The Saudi Iron and Steel Company (Hadeed) has announced an increase in rebar prices (12–32 mm) for the month of December by SAR 40 (USD 10), bringing the new price to SAR 2,120 (USD 565) per ton.
Wire rod prices (6.5–16 mm) have also risen by SAR 25 (USD 6), reaching SAR 2,270 (USD 605) per ton.
It is worth noting that the announced prices are based on the official exchange rate in Riyadh and do not include the 15% value-added tax.
Hadeed is the largest steel producer in the Gulf Cooperation Council (GCC), with an annual production capacity of approximately 3.8 million tons of long products and 2.2 million tons of flat products.