The Saudi Arabia rebar sector is experiencing a significant uptick in activity, largely attributed to the resurgence of major megaprojects aligned with the Vision 2030 strategy.
Regular prices offered by mills to traders have shown a slight increase, now standing at SAR 2,350 per ton ($627 per ton) delivered, compared to the previous range of SAR 2,290 to SAR 2,325 per ton ($611 to $620 per ton) delivered. For specific project-based contracts, prices currently range from SAR 2,250 per ton ($600 per ton) delivered to SAR 2,150 per ton ($573 per ton) delivered, depending on the category.
Second-tier mills have responded to the evolving market conditions by implementing an increase of approximately SAR 50 per ton. Meanwhile, the benchmark mill has taken the step of canceling pending orders from non-contracted customers and has ceased accepting additional quantities, giving rise to speculation about a potential SAR 50 per ton increase in pricing.
*$1 = SAR 3.75
*Exclusive of the 15% VAT
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