The first iron and steel meeting organized by Union of Saudi Chambers represented by the National Committee for the Iron and Steel Industry Iron, was launched in Riyadh yesterday, Monday, September 16, with the participation of a group of local and international leaders and experts in the field of iron industry.

This specialized meeting in the iron and steel industry is of great importance in light of the important developments in the Kingdom, the region and the world that affect this industry, which is the main pillar of economic development.

The Secretary-General of the Federation of Iron and Steel Federations explained.

The Secretary General of the Federation of Saudi Chambers Waleed bin Hamad Al-Arinan explained that the iron and steel sector in the Kingdom is one of the most important economic sectors, and that the organization of the steel meeting will be on a quarterly basis to support this vital sector, which represents the basis of economic development in all countries of the world.

For his part, the Chairman of the Iron and Steel Industry Committee stated that the meeting will be held on a quarterly basis to support this vital sector. For his part, Chairman of the National Committee for the Steel Industry Bandar bin Abdullah Al-Salim said that the meeting aims to discuss the developments of the iron and steel sector locally and internationally, adding that the committee represents 70% of iron and steel producers in the Kingdom and works to create and publish a map of steel manufacturers in the Kingdom and the Arab nation, as well as its membership in the World and Arab Iron and Steel Federation.

The meeting reviewed the Kingdom's position in the iron and steel industry, where it has an estimated reserve of 780 tons, and ranks fourth in the world among the largest producers of direct reduction steel using environmentally friendly methods, and 20th in the world in terms of production capacity of steel blocks and slabs, while the size of the steel market of long and flat products is 18 million tons and the number of factories 41 factories with a production capacity of 14 million tons and 15 thousand employees and workers.

Participants raised concerns about the Kingdom's iron and steel industry, and that it is working to establish a map of iron and steel manufacturers in the Kingdom and the Arab world, in addition to the World and Arab Iron and Steel Union.

Participants expressed concerns about the decline in manufacturing in countries such as the European Union, whose crude steel production in 2023 was 126 million tons, the lowest figure ever, while India, the second largest iron and steel producing country, and America recorded a positive growth rate.

As for India, which is the second largest iron and steel producing country, it recorded a positive growth rate. The National Committee for the Steel Industry represents the interests of the sector and includes major companies and investors in the field of iron and steel in the Kingdom and works according to its vision to create a leading position for the Saudi steel industry at the regional and international level.

National Committee for the Steel Industry represents the interests of the sector and includes major companies and investors in the field of iron and steel in the Kingdom of Saudi Arabia.