The head of the National Steel Committee at the Council of Saudi Chambers, Engineer Shael Al-Ayed, denied a drop in the prices of national steel, as rumored on a number of social networking sites, explaining that the prices are still the same value and have not decreased for four months, expecting them to remain the same until Eid al-Adha.

Al-Ayed said in a press statement.

Al-Ayed said in a press statement that the prices of Chinese steel are lower than the prices of national steel, which threatens to escalate the process of dumping inside the Kingdom, indicating that the decision to impose protection duties on imported steel at 15% has not yet been finally approved, despite the approval of the ministers of trade and industry in the GCC countries, and is currently still with the finance ministers for further study.

Ayed said in a press statement that the prices of Chinese steel are lower than the prices of national steel.

Al-Ayed explained that the failure to impose the required protection fees on steel imports 15% makes it easy to enter imported steel at low and subsidized prices, compared to local prices, which may be lower than the cost of local production, and thus the competition is unfair, and the local industry suffers great losses, indicating that the current fees are 5% compared to what is currently imposed in some GCC countries, 15% and this percentage increases to more than 30% in some foreign countries.