The National Steel Committee of the Council of Saudi Chambers has called on all contractors responsible for implementing government projects—led by Committee Chairman Al-Ais—to comply with royal decrees regarding the support and promotion of steel products in the Kingdom and to use them in place of imported steel, even if this means paying a higher price 10%, provided they meet the specifications.

Engineer Shu’ail explained this, noting that with the continued steady increase in steel inventories at local factories—which have exceeded one million metric tons among producers and suppliers—and the continued decline in domestic demand due to a slowdown in projects, in addition to the presence of imported steel inventories in the markets,it is necessary for the Ministry of Commerce and Investment to emphasize the requirement that all government agencies give domestic products price preference over their foreign counterparts, as stipulated by the regulations.

The chairman of the National Steel Committee said that local steel producers are still awaiting a decision from the Ministry of Commerce regarding the issuance of export licenses, following the royal approval granted some time ago.

It is worth noting that the rate of domestic steel production exceeds ten million metric tons per year, and the domestic market is experiencing a slump, causing steel prices to fall below 2,000 riyals per metric ton, while inventory levels have exceeded one million metric tons. Producers are seeking a swift resolution to the export issue, which remains under review by the Ministry of Commerce and Investment following the royal approval .