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Saudi Arabia’s rebar prices show significant fluctuations amid market shifts in 2024

In Saudi Arabia, rebar prices have seen a notable decline from January to September 2024, reflecting shifting market dynamics.

Saudi Arabia’s rebar prices show significant fluctuations amid market shifts in 2024

In a detailed analysis of the economic performance from January to September 2024, a mixed trend emerges when compared to the same period in 2023. The data reveals a significant decline in the early months of 2024, with January showing a notable decrease of 12.5% from 3287.43 in 2023 to 2878.09 in 2024. This downward trend continued through February and March, with declines of 9.1% and 7.9% respectively.

However, the economic landscape began to stabilize by mid-year. By June, the figures showed a marginal increase of 0.1%, indicating a potential recovery. This positive trend continued into the summer months, with July and August recording increases of 1.5% and 1.3% respectively. September also saw a slight rise of 1.0%.

Despite these improvements, the average performance for the first nine months of 2024 was still 4.3% lower than the same period in 2023, averaging 2896.51 compared to 3027.21. This data suggests that while there are signs of recovery, the overall economic performance in 2024 has yet to fully rebound to the levels seen in 2023.

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