Saudi Arabia's benchmark mill, Hadeed, has increased domestic rebar prices by SAR 50 per tonne ($13) in October, responding to rising costs in the scrap market. This price adjustment reflects ongoing pressures from surging scrap prices and logistical challenges. The new price is expected to impact local steel manufacturers as they navigate a competitive landscape marked by fluctuating raw material costs and increased demand for construction materials. Hadeed's move aims to stabilize margins amid these market dynamics, ensuring continued supply for domestic projects.