steel prices in Saudi Arabia rose sharply during the first half of 2026, continuing the upward trend that began at the end of last year, with the average price per metric ton reaching its highest level in nearly four years, according to official data released by the General Authority for Statistics.
The data showed that the average price per metric ton of steel rose during the first six months of 2026 by 23.91% compared to its level at the end of 2025, an increase of 659.8 riyals per metric ton. The average price rose from 2,759.1 riyals per metric ton in December 2025 to 3,418.9 riyals per metric ton by the end of June 2026.
This increase resulted from a continuous series of monthly increases, with the average price per metric ton reaching 2,785 riyals in January 2026, then rose to 2,832.1 riyals in February, and continued to climb to 2,887.1 riyals in March. In April, the average price exceeded 3,083.7 riyals per metric ton, before jumping to 3,414.2 riyals in May and then reaching 3,418.9 riyals in June, marking the seventh consecutive monthly increase.
Average price per metric ton of steel
The average price per metric ton of steel in June 2026 to its highest level in 46 months—that is, since August 2022, when it stood at 3,502.29 riyals per metric ton—reflecting continued upward pressure on steel product prices in the Saudi market.
On a year-over-year basis, the average price per metric ton of steel rose by 18.86% in June 2026 compared to the same month in 2025. The annual increase amounted to 542.6 riyals per metric ton, as the average price rose from 2,876.3 riyals in June 2025 to 3,418.9 riyals in June 2026.
Traded Steel Grades
All steel grades traded in the Kingdom saw varying annual increases during June 2026. Both 12-mm national rebar and 14-mm national rebar topped the list of increases, with each rising by 22.4% on a year-over-year basis. The price per metric ton of 12-mm National Rebar reached approximately 3,279.3 riyals, while the price per metric ton of 14-mm National Rebar reached 3,282.3 riyals.
the price of 16-mm domestic rebar rose by 22.3% compared to the same month last year, bringing the average price per metric ton to 3,282.4 riyals. The price of 18-mm national rebar rose by 22% to 3,273.7 riyals per metric ton.
For other sizes, the price of 8-mm domestic rebar rose by 21.6% year-over-year to 3,310.3 riyals per metric ton, while the price of 10-mm domestic rebar rose by 21.7%, bringing its average price to 3,358.9 riyals per metric ton.
As for 6-mm domestic rebar, it recorded a year-over-year increase of 5.6%, bringing the average price per metric ton to 4,145.4 riyals, compared to 3,925.3 riyals in June of last year, making it the most expensive grade among the sizes mentioned.
