Hadeed cuts long steel prices for June deliveries

The Saudi Iron and Steel Company (Hadeed) has reduced its long steel prices for June.

The company’s rebar (12-32 mm) prices were lowered by SAR 100 (USD 27) per ton, now offered at SAR 2,130 (USD 566) per ton. Wire rod (6.5-16 mm) saw a smaller reduction of SAR 30 (USD 8) per ton, bringing the new price to SAR 2,320 (USD 617) per ton.

Above prices are on a CPT Riyadh basis, excluding 15pct VAT.