SABIC reduces steel prices

The Saudi Basic Industries Corporation (SABIC) announces the reduction in the retail price of rebar by SR 200 per ton in all regions of the Kingdom, effective Tuesday, September 1, 2015. 

Abdulaziz Sulaiman Al-Humaid, SABIC Executive Vice President, Metals Strategic Business Unit, said that the reduction contributes to the stability in the domestic market for the good of the public, as indicators point to rising demand for steel in the current and coming periods. The reduction also keeps pace with developments in the regional and global markets, he said.