Saudi steel prices drop 7% in 2016

Prices of construction materials in Saudi Arabia declined in 2016, led by cables with a 14.1 percent year-on-year (YoY) drop.

Steel prices declined by 7.3 percent YoY to SAR 2,261 per ton during the same period, official data from Saudi Arabia’s General Authority for Statistics (GAS) showed.

Ready-mix concrete and cement prices were 3.5 percent and 1.4 percent down YoY, respectively in the same period.

Average Prices
Material	2015	2016	Change
Ready-mix concrete (cubic meter)	SAR 203.45 per ton	SAR 196.24 per ton	(3.5%)
Steel (ton)	SAR 2,440.27 per ton	SAR 2,261.57 per ton	(7.3%)
Cement (50 kilo bag)	SAR 13.73 per ton	SAR 13.54 per ton	(1.4%)
Cables (meter)	SAR 31.30 per ton	SAR 26.88 per ton	(14.1%)
Wood (cubic meter)	SAR 2,642.09 per ton	SAR 2,593.11 per ton	(1.9%)

Steel prices fell to their lowest level at SAR 1,986 per ton in November. Prices had reached their highest level in June at SAR 2,489 per ton.

Cement prices were the lowest in December at SAR 13.17 per 50-kilogram bag.

Construction Materials Prices (SAR)
Wood (cubic meter)	Cables (meter)	Cement (50 kilo bas)	Steel (ton)	Ready-mix concrete (cubic meter)	Month
2,606.52	28.45	13.65	2,091	200.24	January
2,611.46	28.05	13.62	2,091	200.03	February
2,621.21	27.74	13.62	2,091	199.19	March
2,616.44	27.33	13.62	2,290	199.23	April
2,610.51	27.08	13.62	2,486	198.43	May
2,610.50	26.91	13.62	2,489	197.96	June
2,615.12	26.79	13.56	2,486	197.46	July
2,604.55	26.69	13.56	2,454	196.28	August
2,600.18	25.83	13.56	2,331	195.62	September
2,575.99	25.67	13.49	2,076	193.19	October
2,530.77	25.60	13.37	1,986	189.89	November
2,509.09	26.44	13.17	2,267	187.40	December

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