Hadeed hikes rebar and wire rod prices for March

Saudi Arabia’s Saudi Iron and Steel Company (Hadeed) has increased prices for its long steel products for March deliveries.

Rebar prices for 12-32 mm sizes have been raised by SAR 100 (USD 26) to SAR 2,360 (USD 629) per ton. Meanwhile, wire rod prices for 6.5-16 mm grades increased by SAR 60 (USD 16) to SAR 2,350 (USD 626) per ton.

Above prices are on a CPT Riyadh basis and exclude the 15pct VAT.

Hadeed is the GCC’s major steel producer with an annual capacity of 3.8 mln tons of long products and 2.2 mln tons of flat products. The company was acquired by the Public Investment Fund in May 2024.

1 USD / 3.75 SAR