Saudi Iron and Steel Company (Hadeed) has confirmed that its long steel product prices will remain steady for January 2025 deliveries. The price for rebar (12-32 mm) will continue at SAR 2,400 ($639) per tonne, while wire rod (6.5-16 mm) will hold at SAR 2,440 ($649) per tonne. These rates are quoted on a Riyadh CPT basis and exclude the 15% VAT.
This decision underscores Hadeed's commitment to market stability amidst global fluctuations in steel prices. By keeping prices consistent, the company aims to provide predictability for its customers and facilitate the progress of critical construction and infrastructure projects across Saudi Arabia and the wider region. Hadeed’s strategy is seen as a proactive measure to support ongoing economic growth and development initiatives.
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