Saudi Arabia cuts steel prices in October as UAE maintains stability in Middle Eastern market

The Middle East steel market is showing a mixed outlook in October. In Saudi Arabia, Hadeed lowered rebar prices to 2,055 SAR/ton (USD 548/ton), while in the UAE, Emirates Steel Arkan kept its prices unchanged at 2,590 AED/ton (USD 705/ton). In the coming period, prices are expected to fluctuate depending on demand, costs, and the scrap market.