Spokesman of Saudi basic industries Corporation said that the company reduced asking prices of rebars by 800 Saudi Riyal per ton. Since September, the company has made a total of 60% reduction in its asking prices. This attempt is aimed at supporting local markets which are dull. Reinforced steel by Sabic shall be priced at SAR 1956/ton in Riyadh, SAR 1995/ton in Jeddah and SAR 1925/ton in Dammam.