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Saudi Arabia: Iron Prices Increase by 24% in First Half of 2026
The average price of a ton of steel in Saudi Arabia increased by 23.91% during the first half of 2026, reaching its highest level in 46 months at 3,418.9 riyals by the end of June. This represents an increase of 659.8 riyals compared to the end of 2025, marking the seventh consecutive month of rising prices. All types of rebar saw price increases, with the percentage rise ranging from 21.6% to 22.4%. Additionally, the price of 6 mm steel per ton increased by 5.6%. The surge in steel prices has led to a noticeable rise in construction costs, with prices up by 18.86% on an annual basis.
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