Saudi Basic Industries Corporation (Sabic) has raised domestic prices for some categories of steel in response to a rebound in international market prices, a company official told Reuters on Wednesday.

The average price for 8 mm and 10 mm steel rods has risen by SR100 ($26.70) a tonne to SR1,950, the Maaal financial website reported.

Prices had been in a downtrend for more than a year. - Reuters