Minister of Trade and Mineral Assets Bandar bin Ibrahim Al-Khorayef mentioned that the native market within the iron sector was going through a deficit in two elements, the primary when it comes to the overall amount of iron, and the second, which is the standard of the sort out there available in the market, which is an important.
In response to a query numbers Concerning the research on the optimum choices to cowl the deficit within the native market, through the Third Saudi Worldwide Iron and Metal Convention 2025The minister mentioned that almost all native producers had been specializing in fashionable industries associated to rebar, and this regardless of its significance and is supported by the housing sector, main initiatives and development, which is a crucial development and continues, however there was additionally a necessity as a result of a part of the deficit got here from forms of iron that rely on plates that didn’t exist and most of it was imported.
He identified that some factories as we speak circled and noticed this chance, and this was one of many ministry’s most vital roles in clarifying the scale of the market, demand and the gaps in it, expressing his happiness that the non-public sector truly took the initiative and labored to cowl these gaps rapidly.
