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11 Sep

Saudi rebar demand, price dynamics puzzle traders

Saudi Arabia's tier-three rebar producers raised their prices to SAR 2,100/tonne ($560) against cash last week. Due to modest demand and liquidity needs this week, some tier-three mills softened their rebar offers to SAR 2,070/t delivered in the same city, payable by cash or short credit not exceeding two weeks, notes Kallanish. On the other hand, tier-two mills, Riyadh-based Al Rajhi and Dammam-based Al Ittefaq, increased their rebar quotes to SAR 2,220-2,250…
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Burak Odabasi  |  Turkey
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