Steel prices in Saudi Arabia have risen by 9 percent year-on-year (YoY) to average SAR 2,287 per ton in the first quarter of the year, data issued by the Kingdom’s General Authority for Statistics (GAS) showed.

 

Other construction materials saw price declines. Prices of cement and cables fell by 5 percent YoY each to SAR 12.95 per 50-kilogram bag and SAR 26.75 per meter, respectively.

 

Prices of ready-mix concrete dropped 7 percent YoY in the same period.

 

Wood recorded the smallest decline of 4 percent YoY in Q1-2017.  

 

Average prices of construction Materials Q1-2017 (SAR)

Material

Q1-2016

Q1-2017

Variation

Ready-mix concrete

(cubic meter)

199.82

185.63

(7%)

Steel (ton)

2,091.00

2,287.00

+9%

Cement

(50 kilo bag)

13.63

12.95

(5%)

Cables (meter)

28.08

26.75

(5%)

Wood

(cubic meter)

2,614.71

2,504.20

(4%)

 

Steel prices hit their highest level in January, with 11 percent growth to SAR 2,319 per ton. They fell to their lowest level at SAR 2,259 per ton in March.

 

Cement prices were the lowest in March at SAR 12.86 per 50-kilogram bag. 

 

Steel prices over Q1-2017 (SAR per ton)

Month

2016

2017

Variation

Jan

2,091

2,319

+11%

Feb

2,091

2,283

+9%

March

2,091

2,259

+8%

Average

2,091

2,287

+9%

 

Cement prices over Q1 (SAR per 50 Kg bag)

Month

2016

2017

Variation

Jan

13.65

12.98

(5%)

Feb

13.62

13.01

(4%)

March

13.62

12.86

(6%)

Average

13.63

12.95

(5%)

 

Construction materials prices over Q1 (SAR)

Month

Ready-mix concrete

(cubic meter)

Wood

(cubic meter)

Cables

(meter)

Jan

186.60

26.41

2518.17

Feb

186.29

26.82

2507.69

March

183.99

27.02

2486.73

 

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