|18 February, 2020

Saudi steel prices rise second month in row; cement at 38 months-high

Cement prices increased by 4.9% YoY

Steel Tubes At Metal Work factory Sections of Steel Tubing At Metal Work Factory. Image used for illustrative purpose.

Steel Tubes At Metal Work factory Sections of Steel Tubing At Metal Work Factory. Image used for illustrative purpose.

Getty Images/ Thurtel

Riyadh – Mubasher: Average steel prices in Saudi Arabia increased in January 2020, reaching its highest level in four months, while cement prices maintained its upward trend for the fifth consecutive months to a new three-year high.

Steel prices in the kingdom recorded an average of SAR 2,550.20 per tonne, its highest level since recording 2,555.51 per tonne in September 2019, as shown by the data of the Saudi General Authority for Statistics (GaStat).

This shows a 4.38% year-on-year (YoY) in average prices last month.

Meanwhile, the average cement price went up to SAR 13.33 per bag, its highest level since November 2016, or a total of 38 months.

Cement prices increased by 4.9% YoY, while the average white cement price declined by 5.9% YoY.

Source: Mubasher Exclusive

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