Local steel companies raised production to more than two million tons of steel during the first third of this year compared to 1.82 million tons during the same period last year, an increase of 9.8%. These figures reflect the increase in the production of local steel companies due to the increase in housing projects and various infrastructure projects, and the rise in government spending under an infrastructure spending plan that exceeded 400 billion dollars.

Increased production
According to media information, local steel companies produced 505,000 tons of steel during April of this year, an increase of 10.7% over the same period last year, when local companies produced 456,000 tons.
According to many data, the local market needs to double the production capacity of steel and cement to meet the requirements of the urban renaissance, as the market needs to build 1.65 million new units in the coming years to meet the growing demand, as well as expectations that private and governmental real estate development companies need to build about 275 thousand units annually.
Statistics indicate that the Kingdom's import of Turkish steel during January and February of this year decreased to 43,000 tons from 76,000 tons during the same period last year. In contrast, with the decline in the Kingdom's import of Turkish steel, Saudi steel companies produced 469,000 tons at the beginning of 2014, a slight increase from the beginning of 2013, which was 463,000 tons, an increase of about 1.1%, unlike most Arab countries whose production decreased significantly at the beginning of this year.

Increasing demand for steel
The demand for steel in the local market is estimated to rise between 8 and 11% on a semi-annual basis, with expectations of continued demand for local and imported products in conjunction with government spending, housing projects and infrastructure projects. Many observers believe that the demand for steel in the local market will increase in the coming period as a result of the start of work on the Riyadh metro and the continued development projects of the Haramain facilities, which with the increase in construction projects and housing projects constitutes a large demand by the end of this year.

According to the production of local companies, there is no crisis in steel stocks in Saudi companies during the second and third quarters of this year with a semi-balance between supply and demand after suppliers and companies passed the crisis of the decline in demand during the last period as companies were forced to reduce their prices by nearly 200 riyals per ton.At the level of international markets, the world production of crude steel during the month of April reached 137 million tons from 65 countries, including only 7 Arab countries, including Saudi Arabia, where the total production of these Arab countries during this month reached 1.68 million tons, up 10.71 TP3T from April 2013.At the level of the Arab countries, the total production of these Arab countries during this month amounted to 1.68 million tons, up 10.71 TP3T from April 2013. Global production
According to an international statistic, the world's production of crude steel during March exceeded 141 million tons from 65 countries, including only 7 Arab countries, where the total production of these Arab countries during this month amounted to 1.66 million tons, down 1.8% from March 2013.
The production of Egypt, Qatar, Libya and Morocco increased, the production of the UAE and Algeria decreased, while the production of Saudi Arabia remained stable. On a quarterly basis, however, Arab countries' production increased by 0.91 TP3T due to higher output from Libya, Qatar and Saudi Arabia, while Egypt, the UAE, Morocco and Algeria declined.
Statistics indicate that the Kingdom's import of Turkish steel during January and February of this year decreased to 43,000 tons from 76,000 tons during the same period last year.
In contrast, with the decline in the Kingdom's import of Turkish steel, Saudi steel companies produced 469 thousand tons at the beginning of 2014, a slight increase from the beginning of 2013, which was 463 thousand tons, an increase of about 1.1%, unlike most Arab countries whose production declined significantly at the beginning of this year.