The Saudi Arabian rebar market is anticipating the release of the benchmark mill's November-rolling quotes, according to Kallanish. October prices for tier-one mills have been reported at SAR 2,670-2,750 per tonne ($712-733) within the kingdom. This comes amid concerns regarding a duty exemption granted to Emirates Steel Arkan, which could impact local producers.
As Saudi mills prepare for the upcoming quotes, there is uncertainty about how the exemption will affect pricing dynamics, especially as local producers have enjoyed a favorable market momentum recently. The outcome of these announcements is crucial for stakeholders in the Saudi rebar industry.