Hadeed raises long steel prices for May output

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

Rebar (12-32 mm) prices were raised by SAR 100 (USD 27) to SAR 2,900 (USD 774) per ton, while wire rod (7-14 mm) prices also increased by SAR 100 (USD 27) to SAR 2,950 (USD 787) per ton.

The move follows multiple price increases for April output, as the benchmark mill continues to adjust prices amid ongoing cost pressures linked to regional disruptions.

The prices are on a CPT Riyadh basis, excluding 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