Tel : 0086-0371-86172891
Due to the rise in global raw material prices and the finalization of numerous construction projects such as Neom Smart City, the Saudi Arabian steel market is showing a trend of rising costs and strong demand, supporting local steel mills to raise their prices for rebar HX340BD+AZ steel orders in February.
We have learned that the prices quoted by mainstream steel mills in the region have increased from $620/ton to around $625/ton EXW, while the HX340BD+AZ steel prices quoted by secondary steel mills for rebar have increased from $575-580/ton to $585-600/ton EXW. The range between different prices has narrowed.
In addition, UAE Steel has raised the order price of rebar produced in February by $15/ton to $745/ton EXW, with a slightly lower transaction price remaining around $705/ton EXW. Second tier steel mills, including Oman, have lower transaction prices at around $675/ton EXW.
It is reported that some contractors and traders have signed contracts to keep the purchase price of threaded steel unchanged for two months, which to some extent limits the further increase in the transaction price of threaded steel, and the retail HX340BD+AZ steel price remains unchanged in the short term.