11,172.75 TRY BIST 100 BIST 100
4.56 CNY CNY CNY
33.00 USD USD USD
35.93 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.17 TRY Interest Interest
82.37 USD Fossil Oil Fossil Oil
28.80 USD Silver Silver
4.15 USD Copper Copper
103.01 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,530.70 TRY Gold (gr) Gold (gr)

Hadeed ensures price stability for rebar and wire rod in April

Hadeed, a prominent entity in Saudi Arabia's steel industry, has announced its decision to maintain consistent prices for rebar and wire rod throughout April.

Hadeed ensures price stability for rebar and wire rod in April

As the Ramadan month concludes, we can expect a gradual recovery in market activity. Many businesses and construction projects that were temporarily on hold during Ramadan will resume operations.

The resumption of construction projects, infrastructure development, and industrial activities will drive up the demand for structural steel.

Saudi Arabia has been investing heavily in infrastructure development, including megaprojects like NEOM, the Red Sea Project, and Qiddiya. These initiatives will continue to fuel demand for structural steel.
The ongoing urbanization trend in the country will lead to more commercial and residential construction, further boosting the market.

The market will witness a growing emphasis on sustainability. Builders and developers will prioritize eco-friendly materials, including structural steel, due to its recyclability and energy efficiency.

In a strategic move aimed at fostering market stability, the Saudi Iron and Steel Company (Hadeed) has announced its decision to uphold consistent prices for rebar and wire rod throughout the month of April. This marks the second consecutive month where Hadeed has opted for price stability, underscoring its commitment to balancing market dynamics.

According to the latest details released by Hadeed, rebar ranging from 12 to 32 mm will remain available at a steadfast price of 2,350 Saudi riyals per ton. Similarly, wire rod measuring from 6.5 to 16 mm can be acquired at a consistent rate of 2,450 Saudi riyals per ton. It's important to note that these prices are based on Riyadh CPT and do not include the 15% VAT. Furthermore, with the exchange rate set at 1 US dollar to 3.75 Saudi riyals, customers can plan their procurement strategies with clarity.

We recognize the importance of providing predictability amidst fluctuating market conditions," commented from Hadeed. "Our steadfast pricing strategy for April underscores our dedication to supporting our customers and fostering sustainable growth in the industry."

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Ukrainian Railways increased cargo transportation by 28% in the first half of 2024

Tuesday, July 23, 2024

The decline in global steel prices pushes India into the import market

Tuesday, July 23, 2024

MMK announced its operating results for the 2nd quarter and 6 months of 2024

Tuesday, July 23, 2024

ArcelorMittal Poland closes coke battery in Krakow

Tuesday, July 23, 2024

Made in Steel 2025: Steel industry is shaping the future!

Monday, February 26, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now