The National Steel Committee of the Council of Saudi Chambers demanded that all contractors responsible for implementing government projects comply with the royal orders regarding the support and encouragement of iron and steel products in the Kingdom and use them instead of the imported ones, even if the price increases 10% with conformity to the specifications.<\/p>\n
With the continued steady increase of steel stocks in local factories, which exceeded one million tons among producers and suppliers, and with the continued decline in local demand due to the slowdown in projects, in addition to the presence of stocks of imported steel in the markets, it is necessary for the Ministry of Trade and Investment to emphasize that all government agencies must give national products preference in prices over foreign products as stipulated by the law, according to what is stipulated in the law.<\/p>\n
The head of the National Steel Committee said that local producers of the commodity are still waiting for the Ministry of Commerce to issue licenses for export since the royal approval was issued some time ago.<\/p>\n
It is noteworthy that the rate of local production of steel exceeds ten million tons per year, and the local market is witnessing a stagnation, with steel prices falling to less than 2000 riyals per ton, while the stock rate exceeds one million tons, and producers seek a quick decision on the export file, which is still under consideration by the Ministry of Trade and Investment after the issuance of the royal approval.<\/p>","protected":false},"excerpt":{"rendered":"
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