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01 Apr

Riyadh mills cut rebar prices to near billets

Riyadh-based semi-integrated rebar producers have cut their ex-mill rebar transaction prices to around SAR 2,080/tonne ($555) from SAR 2,115-2,120/t a week ago, only SAR 15-40/t higher than delivered billet prices in Riyadh. The figures are for volumes over 3,000 tonnes. Dammam-based third-three rebar producers have their lowered ex-mills rebar quotes to SAR 2,140-2,160/t from SAR 2,180-2,200/t, notes Kallanish. Driven by the Ramadan lull, rebar sales have slowed…
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