Q1 2026 Market Summary
Saudi rebar (ASTM A615 Grade 60) averaged SAR 2,840 per tonne in Q1 2026 — a 6.2% increase over Q4 2025, driven by tightening domestic supply amid record Giga-Project demand and reduced import volumes from Turkey and China.
Key Price Drivers
- Domestic demand surge: NEOM Phase 2 civil works mobilized 14 new concrete-intensive work fronts in January 2026
- Energy cost pass-through: Saudi Electricity Company tariff revisions increased EAF operating costs by approximately SAR 45/tonne
- Import compression: Red Sea shipping disruptions added USD 28/tonne to CIF Saudi port costs for imported rebar
Regional Price Comparison (March 2026)
| Country | Price (USD/tonne) | Change QoQ |
|---|---|---|
| Saudi Arabia | 757 | +6.2% |
| UAE | 729 | +4.1% |
| Turkey (export) | 641 | -1.8% |
| China (export) | 598 | -3.2% |
Q2 2026 Forecast
Qimta's market intelligence team projects a 2–4% price moderation in Q2 2026 as additional domestic capacity from Hadeed's Jubail expansion comes online in May. Procurement teams are advised to consider forward contracts for volumes exceeding 500 tonnes.