The average prices of rebar in Saudi Arabia have shown notable fluctuations over the period from January to November 2023-2024. The data reveals a general trend of decreasing prices in 2024 compared to the same months in 2023.
In January 2024, the average rebar price was SAR 2878.09, marking a significant 12.5% decrease from January 2023's price of SAR 3287.43. This downward trend continued in the following months, with February 2024 prices at SAR 2883.31, down 9.1% from February 2023.
March and April 2024 saw rebar prices at SAR 2885.91 and SAR 2886.27, respectively, reflecting decreases of 7.9% and 7.1% compared to the same months in 2023. By May 2024, the price drop had moderated to 4.1%, with rebar prices at SAR 2885.41.
Interestingly, June 2024 marked a turning point with a slight increase of 0.1% over June 2023, with prices at SAR 2891.46. This upward trend continued modestly through the summer months, with July 2024 prices at SAR 2916.82, up 1.5% from July 2023, and August 2024 prices at SAR 2920.15, up 1.3%.
September 2024 saw a 1.0% increase in rebar prices to SAR 2921.19 compared to September 2023. October and November 2024 continued this trend with prices at SAR 2903.29 and SAR 2918.4, reflecting slight increases of 0.1% and 0.3%, respectively, over the same months in 2023.
Overall, the average rebar price for the January-November period in 2024 was SAR 2899.11, a 3.5% decrease from the average price of SAR 3004.96 in 2023. This data highlights the dynamic nature of the rebar market in Saudi Arabia, influenced by various economic factors and market conditions.
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