Iron prices in the Kingdom recorded a sharp price jump during the past month of March, with record increases peaking in the category of ‘6mm National Reinforcing Steel’ with a cash increase of 90.7 riyals per ton; the price jumped from 3858.0 riyals in February to 3948.7 riyals in March. This jump is driven by escalating geopolitical tensions in the region, which have cast a shadow on supply chains and global insurance and shipping costs, creating direct price pressure on the local market, despite overall price levels remaining low by approximately 3% compared to the same period last year.
Despite the annual decline recorded for iron, monthly data revealed a clear price jump between February and March 2026. Observers believe this fluctuation reflects the sector’s high sensitivity to geopolitical events; disruptions in waterways and global energy costs have raised the cost of raw materials and transportation, prompting suppliers to pass these increases onto the final price to ensure the continuity of construction flows for major projects.
_______ The Highest Increases
The Saudi market witnessed a price movement that included all categories of national reinforcing steel, with steel (12, 14, and 16 mm) recording the highest monthly increase rate of 2.9%. These are the most commonly used measurements in residential construction projects. In terms of value, the price per ton of 12 mm steel jumped by 77 riyals to reach 2702.2 riyals, while 14 mm increased by 76.1 riyals, and 16 mm increased by 75.7 riyals.
As for the category of steel (18 mm): it came in second place in terms of the percentage increase at 2.8%, with a price increase of 73.4 riyals per ton, bringing its price to 2708 riyals, up from 2634.6 riyals in February.
The category of steel (6 mm), despite recording a 2.4% increase rate, achieved the highest cash increase of 90.7 riyals per ton, settling its price at 3948.7 riyals. It is the only category that also recorded an annual increase of 2.6%.
The category of steel (10 mm) also rose by 1.8%, equivalent to an increase of 48.4 riyals per ton, bringing the price to 2744.7 riyals. The category of steel (8 mm) recorded the lowest increase rate on this list at 1.7%, with an increase value of 44.9 riyals per ton.
_______ Declining Materials
Despite the rapid movement of prices, some basic commodities recorded slight declines that helped balance the total cost. Ready-mix concrete topped the list of monthly declines;
