Saudi steel prices rise 12% in Q1, cement edges up

05/06/2018 Argaam Special

 

Steel prices in Saudi Arabia have jumped 12 percent year-on-year (YoY) to average SAR 2,552 per ton in Q1 2018, data issued by the Kingdom’s General Authority for Statistics (GASTAT) showed.

 

Prices of cement and cables increased 1 percent YoY each to SAR 13.04 per 50-kilogram bag, with cables rising 19 percent YoY to SAR 31.73 per meter.

 

Wood grew by 5 percent YoY in the same period.  

 

Meanwhile, prices of ready-mix concrete dropped 5 percent YoY in the same period.

  

Average Prices of Construction Materials (SAR)

Material

Q1 2017

Q1 2018

Variation

Ready-mix concrete

(cubic meter)

185.63

176.62

(5%)

Steel (ton)

2,287.00

2,552.00

+12%

Cement

(50 kilo bag)

12.95

13.04

+1%

Cables (meter)

26.75

31.73

+19%

Wood

(cubic meter)

2,504.20

2,626.28

+5%

 

Steel prices rose the most in March at 13 percent to SAR 2,563 per ton. January saw the least growth at 9 percent YoY to SAR 2,533 per ton.

 

Steel Prices (SAR/ton)

Month

2017

2018

Variation

Jan

2,319

2,533

+9%

Feb

2,283

2,561

+12%

March

2,259

2,563

+13%

Average

2,287

2,552

+12%

 

Cement prices slipped 0.2 percent YoY in February to SAR 12.98 per 50-kilogram bag.

 

Cement prices (SAR/50 Kg bag)

Month

2017

2018

Variation

Jan

12.98

13.12

+1%

Feb

13.01

12.98

(0.2%)

March

12.86

13.01

+1%

Average

12.95

13.04

+1%

 

Construction Materials (SAR)

Month

Ready-mix concrete

(cubic meter)

Cables

(meter)

Wood

          (cubic meter)

Jan

178.25

31.37

2,633.79

Feb

175.35

31.93

2,605.08

March

176.27

31.88

2,639.97

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