Saudi Arabia's General Authority for Statistics released the third quarter trends in prices for key construction inputs.

The average price of iron in Saudi Arabia fell by 18.5 percent to 2882.95 Saudi riyals per tonne in the third quarter compared to SAR 3538.50 per tonne in the year-earlier period.

Iron prices – Q3 2023 v/s Q3 2022

Average ready-mix concrete prices declined 3.66 percent year-on-year to SAR 1,99.61 per cubic metre.

Ready-mix concrete prices – Q3 2023 v/s Q3 2022 

Average timber prices fell 2.89 percent to SAR 3,546 per cubic metre in the three-month period ended September 30, 2023, compared to SAR 3,651.75 per cubic metre a year earlier.

Timber prices – Q3 2023 v/s Q3 2022 

Cabling prices slipped 2.34 percent year-on-year to SAR48.67 per metre.

Cabling prices – Q2 2023 v/s Q2 2022  

On the other hand, the average cement price rose 1.8 percent to SAR14.04 per 50 kg bag in the third quarter of 2023, compared to 13.79 per 50kg bag for the same period last year.

Cement prices – Q2 2023 v/s Q2 2022 

Projects worth $101 billion were awarded in the first half of 2023 in the Middle East and North Africa (MENA), global consultancy JLL said in its construction market intelligence report in October. Almost 67% of the total project awards, or $44 billion, came from Saudi Arabia.

Read More:

Saudi material cost trends: Q2 2023

Saudi material cost trends: Q1 2023

Saudi material cost trends: Q4 2022

Saudi material cost trends: Q3 2022

Saudi material cost trends: Q2 2022

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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