Steel price averages witnessed annual increases that reached a maximum of 54.12% for 10mm national rebar, in which the annual price difference reached 1345 riyals within a year.

Average steel prices witnessed annual increases that reached a maximum of 54.12% for 10mm national rebar, in which the annual price difference reached 1345 riyals within a year.

While the average annual rise reached 43.86% between June 2020 and June 2021, after steel prices throughout the past year witnessed a steady increase in prices that prompted the large annual rise in prices.

A recent report showed that steel prices recorded a monthly increase during the month of June amounted to 10.51% compared to the previous May, as all types of steel witnessed varying increases between 3.86% and 12.80%.

The prices of iron during the current year witnessed an annual increase between 28.99% and 54.12%, where the average prices increased by 43.86% from 2574.39 to 3703.46, 6mm iron prices increased by 28.99% from 3281.60 to 4233.01, and 8mm iron 53.97% from 2486.19 to 3828.08.08, the highest in 10mm rebar 54.12% from 2485.25 to 3830.21, 12mm iron 43.62% from 2444.78 to 3511.12, 14mm iron 43.40% from 2,446.37 to 3508.17, 16mm iron 43.80% from 2439.36 to 3507.70, and 18mm iron 43.85% from 2437.16 to 3505.94 monthly rise.

Iron prices also witnessed an average increase during last June amounting to 10.51% after the average price of iron rose from 3351.19 in May to 3505.94 in June, where 6mm iron prices rose 3.86% at the lowest rate from 4075.67 to 4233.01, and 8mm iron 12.80% from 3393.74 to 3828.08, 10mm iron 12.56% which recorded the highest rise from 3402.81 to 3830.21, 12mm iron 11.49% from 3149.39 to 3511.12 riyals, 14mm 11.52% from 3145.85 to 3508.17, 16mm 11.52% from 3145.39 to 3507.70, and 18mm 11.46% from 3145.45 riyals to 3505.94.