In a move signaling softer market conditions, Saudi steel producer HADEED has lowered its domestic rebar prices for July, marking one of the most notable price revisions in recent months. The company reduced its 12–32 mm rebar pricing by SAR 100 per ton from June levels, setting the new rate at SAR 2,130/t (USD 568/t) across the country. Alongside this adjustment, HADEED also cut prices for 6.5–14 mm wire rod by SAR 30 per ton, bringing the new price to SAR 2,320/t (USD 618.6/t).
These downward revisions reflect growing pressure on producers amid weaker demand and shifting input costs. Following HADEED’s lead, Rajhi Steel and Al Ittefaq Steel have reportedly trimmed their domestic rebar offers by between SAR 100–120/t compared to the previous week. Both companies are now quoting rebar at SAR 2,080/t (USD 555/t), further intensifying price competition in the sector.
Smaller steel producers, particularly those dependent on domestically sourced billets, are facing even stronger margin pressures. Reports indicate that some of these mills are now selling rebar at or below SAR 2,000/t (USD 533/t), suggesting a widening gap between larger integrated producers and smaller, more cost-sensitive players in the market.
Market observers suggest that the current trend may continue through the third quarter, especially if construction activity remains subdued and global steel prices stay under correction pressure.
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