Hadeed keeps June long steel prices unchanged

Saudi Arabia's Saudi Iron and Steel Company (Hadeed) has maintained domestic prices for its long steel products for June production.

The company is offering rebar (12-32 mm) at SAR 2,930 (USD 781) per ton and wire rod (7-14 mm) at SAR 2,980 (USD 795) per ton on a CPT Riyadh basis, excluding 15pct VAT.

The latest decision follows several price revisions implemented by the producer since April amid continued cost pressures associated with regional supply chain and logistics disruptions.

Hadeed is the GCC's major steel producer with an annual capacity of 3.8 mln tons of long products and 2.2 mln tons of flat products. The company was acquired by the Public Investment Fund in May 2024.

1 USD / 3.75 SAR