The Saudi Basic Industries Corporation (SABIC) announced the reduction of the price of one ton of rebar by 200 riyals in all regions of the Kingdom, starting last week. The Executive Vice President of the Metals Unit at SABIC, Engineer Abdulaziz bin Sulaiman Al-Humaid, said that the reduction contributes to maintaining the stability and balance of the local market in order to serve the public interest amid indications of the continued high demand for steel during the current and next period, indicating that this reduction keeps pace with developments in regional and global markets.