Saudi Arabia decreased the prices of steel products by 30% in April,2023. Compared to the same period last year, Sabic Steel has reduced Saudi Arabian rebar price from 4,142 SAR /mt (1,104.5$/t) to 2,760 SAR /mt (735.70$/t)*. The decline in exports, as well as real estate loans and high interest rates in April deliveries, caused an increase in the supply of steel products.
According to local sources, the reduction in the price of rebar will support the contractors and the construction industry.
*(1 $=3,75 Riyal)
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