The General Authority for Statistics in the Kingdom of Saudi Arabia unveiled the latest figures on rebar prices, shedding light on fluctuations in the construction market. According to their report, the average price of a ton of rebar stood at 2,883.31 riyals, marking a slight decrease of 0.18% from the preceding month of January 2024.
Comparing year-on-year data, the decline is more pronounced, with prices witnessing a significant 9.1% drop from February 2023. Delving deeper into the statistics, the report revealed that rebar prices varied based on thickness, with prices ranging between 2,660.17 and 3,949.34 Saudi riyals.
In terms of monthly changes, prices according to thickness experienced marginal increases, ranging from 0.1% to 0.36% compared to January 2024. However, on an annual basis, it was starkly different, with prices showing notable decreases between 5.11% and 11.18% compared to February 2023.
When considering different thicknesses, the price range was as follows;
- Rebar 6 mm: Priced at 3,949.34 riyals, with a slight increase of 0.36% compared to January 2024 but a decline of 5.11% from February 2023.
- Rebar 8 mm: Valued at 2,755.56 riyals, showing a modest increase of 0.31% from the previous month but a substantial drop of 11.18% from the previous year.
- Rebar 10 mm: Priced at 2,809.77 riyals, with a similar 0.36% increase from January 2024 and a 10.88% decrease from February 2023.
- Rebar 12 mm: Maintaining stability at 2,664.55 riyals, showing no change from the previous month but a decline of 9.49% from the previous year.
- Rebar 14 mm: Priced at 2,660.17 riyals, with a negligible 0.01% increase from January 2024 and a 9.67% decrease from February 2023.
- Rebar 16 mm: Valued at 2,668.51 riyals, experiencing a slight 0.03% increase from the previous month but a 9.35% decrease from the previous year.
- Rebar 16 mm: Priced at 2,675.29 riyals, with a 0.1% increase from January 2024 and a 9.21% decrease from February 2023.
*1 USD = 3.75000 SAR*
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