Proposal to launch Saudi Arabia domestic rebar price

Saudi Arabia is one of the major steel consumers in the Gulf Co-operation Council (GCC) region, and its consumption is expected to increase with several new investments planned in the country.

The proposed price specifications are as follows:

Steel reinforcing bar (rebar) domestic, delivered Saudi Arabia, riyals/tonne
Quality: Diameter 8-40mm, length 6,000- 12,000mm
Quantity: minimum 1,000 tonnes
Location: Delivered within Saudi Arabia
Timing: Within 30 days after order
Unit: Saudi Arabian riyals/tonne
Payment terms: LC, bank credit, payment on delivery or within 30 days
Publication: Weekly. Wednesday 2-3 pm London time.

The consultation period for this proposed launch starts on Tuesday June 13, and will end on July 11. The launch will take place, subject to market feedback, on August 9.

To provide feedback on this consultation, or if you would like to provide price information by becoming a data submitter to this market, please contact Serife Durmus by email at pricing@fastmarkets.com. Please add the subject heading “FAO Serife Durmus re: proposal to launch Saudi Arabia domestic rebar prices.”

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.