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02 May

Saudi’s Rajhi reduces rebar, Hadeed introduces project discount

Al Rajhi Steel, one of the two tier-two mills of Saudi Arabia, has reduced its May-rolling domestic rebar quote by SAR 200/tonne ($53.3) on-month to SAR 2,200/t ($586.6), from SAR 2,400/t in April, delivered within the country. Following the price reduction, Saudi Arabia's market maker, Hadeed, introduced a project discount for quantities above certain pre-agreed quota limits – known as the eligibility percentage. The discount of SAR 150/t for quan…
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