The average price of iron in Saudi Arabia rose nearly 20 percent to 4,169.87 Saudi riyals per tonne in the second quarter of 2022, compared to 3,477.47 per tonne in the second quarter of 2021, according to the latest General Authority for Statistics report.
On the other hand, average ready-mix concrete prices edged up 0.8 percent year-on-year to 207.05 riyals per cubic metre.
Cement price on average fell one percent to 13.79 riyals per 50 kg bag in the second quarter of 2022 compared to 13.94 per 50 kg bag for the same period last year.
Average timber and cabling prices rose to 3,705.63 riyals per cubic metre and 50.62 riyals per metre, respectively.
Last month, Hamad Al-Hammad, head of the National Contractors’ Committee at the Saudi Union of Chambers of Commerce of Industry, told Arabic newspapers that projects executed in the Kingdom’s construction and related sectors had exceeded 20 trillion riyals ($5.33 billion) over the past five years.
(Writing by D Madhura; Editing by Anoop Menon)