Saudi Iron & Steel Company (Hadeed) has kept its rebar price unchanged on-month at SAR 3,100/tonne ($826) delivered within Saudi Arabia for August shipments.
Major Abu Dhabi-based rival Emirates Steel reduced its August rebar price earlier this week to AED 2,956/t ($805) ex-works from AED 3,012/t (see Kallanish passim).
Hadeed is benefiting from the rules of origin decree that is protecting local production, local market participants tell Kallanish.
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