In a significant and bold move to protect domestic products, the National Committee for Ironworks at the Council of Saudi Chambers intends to file a lawsuit against Chinese companies for flooding the market with products sold at prices below the cost of domestic products.

Engineer Shu’ail Al-Ayed, chairman of the committee, confirmed that the committee’s request to file the lawsuit has been referred to the relevant authorities at the Ministry of Finance for review and to make decisions regarding the dumping case that Saudi factory owners are demanding be addressed.

Al-Ayed attributed this trend to Chinese steel flooding the market at a price of $375 per metric ton, whereas Saudi steel cannot be sold at such prices—which are below the cost of production for local factories—and thus poses a serious threat to Saudi products.