Saudi Arabia-based Hadeed has increased its rebar prices for the third time this month. The company’s consecutive price hikes highlight the growing cost pressure in the region, while market participants point to rising scrap and logistics costs as key drivers behind the increase.
The company raised its 12–32 mm rebar prices by SAR 80 (USD 21), bringing the price to SAR 2,640 (USD 704) per ton. Wire rod (7–14 mm) prices also increased by SAR 140 (USD 37), reaching SAR 2,690 (USD 717) per ton.
As a result, Hadeed’s rebar prices have increased by a total of SAR 280 (USD 75) since the beginning of April, while wire rod prices have risen by SAR 340 (USD 91) over the same period. Prices are based on CPT Riyadh terms, excluding 15% VAT.
According to industry sources, contractors are reporting losses due to rising costs, while significant delays are being observed in new projects. The company is also expected to implement further price increases in the coming days.
Regional authorities note that in some areas, raw material shortages and rising production costs are causing project postponements and a slowdown in construction activity.
Meanwhile, global geopolitical developments continue to add pressure on markets. Iran’s renewed step back from allowing free passage through the Strait of Hormuz has drawn attention.
Iran’s Parliament Speaker stated, “As long as we cannot pass, no one else will be able to pass through the Strait of Hormuz,” further heightening regional concerns.
Following these developments, some market participants note that despite positive closes in equity markets, optimism remains limited and uncertainty persists, with the risk of renewed conflict not fully ruled out.
Overall, both cost pressures and geopolitical risks are expected to keep volatility elevated in the steel sector.
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