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15 Apr

Saudi rebar market remains subdued

Saudi Arabia has not yet recovered from the lethargy of the long Eid holiday. Rebar prices are stable and unchanged, and the market is expected to start moving only next week. This is when key decision makers and engineers, still on leave, are expected to resume work, notes Kallanish. Wire rod shipments from the benchmark mill remain tight, and there is a need for 11mm diameter wire rod in the market. Al Ittefaq is offering rod at SAR 2,400/tonne ($640) deliv…
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