According to AISU, Saudi Iron and Steel Company (Hadeed) has announced that it will maintain current prices for rebar and wire rod for its May output, marking the third consecutive month of price stability.
The price of rebar (12-32 mm) will remain at 2,350 riyals ($626) per ton. While wire coils (6.5-16 mm) will continue to be offered at 2,450 riyals ($653) per ton.
The above prices are based on Riyadh CPT and without 15% VAT. The exchange rate used is 1 dollar = 3.75 riyals.
By keeping its rebar and wire rod prices unchanged for the third straight month, Hadeed is providing stability and predictability to the Saudi steel market during a period of potential volatility. This decision likely aims to support downstream customers and maintain market share.
