Saudi Iron and Steel Company (Hadeed) announced a price cut on its long steel products, effective for March deliveries. The company reduced prices by SAR 50 (USD 13) per ton in order to maintain market competitiveness.
With this change, the price of rebar (12-32 mm) was set at SAR 2,350 (USD 626) per ton, while the price of wire rod (6.5-16 mm) was reduced to SAR 2,320 (USD 618). These prices are based on CPT Riyadh and excluding 15% VAT.
Hadeed's latest price update is in response to changing market dynamics and demand conditions.
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