The Chairman of the National Steel Committee, Engineer Sha'il bin Jarallah Al-Ayed, revealed that there are expectations of an expected rise in steel prices in the coming months, if not in the coming weeks, in light of the rise in raw material prices in the global markets.

Engineer Sha'il said in a press statement that local steel prices are affected by global prices.

Engineer Shuail said in a press statement that the local prices of steel are affected by global prices and it is noticeable that the prices of global raw materials have risen significantly during the past weeks, and the prices of the global product also began to rise, and it is natural to see a rise in steel prices in the coming months if not in the coming weeks, and the current prices have reached a very low level through which all factories incurred great losses, and this threatens the steel industry in the Kingdom and affects the local economy.

Engineer Shuail said in a press statement that local steel prices are affected by international prices.

The head of the committee emphasized that prices will be affected by several reasons, the most important of which are giant projects, and the projects are currently few compared to previous years, but airport projects and others will have a positive impact, but certainly the return of projects again with greater momentum will really affect the state of the market and prices.

The head of the committee stressed that prices will be affected by several reasons, the most important of which are the giant projects.

Al-Ayed said that export controls are still not yet clear, despite the need for factories to decide on the issue of export as soon as possible, and this matter, in my opinion, has taken more than its time. In addition, the local markets witnessed an increase in the prices of 8 mm rebar from 1400 to 1550 riyals per ton, and the prices of 9 mm steel changed to 1550 riyals per ton, while the local market is witnessing a convergence in the prices of local products and imported products such as Turkish and Emirati steel.

While the local market is witnessing a convergence in the prices of local products and imported products such as Turkish and Emirati steel.