Hadeed raises long steel prices for February sales

Saudi Iron and Steel Company (Hadeed) has increased prices for its long steel products for February sales.

Rebar prices for 12-32 mm sizes were raised by SAR 70 (USD 19) to SAR 2,260 (USD 603) per ton, while wire rod prices for 6.5-16 mm increased by SAR 20 (USD 5) per ton to SAR 2,290 (USD 610) 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