Riyadh – Mubasher: Saudi domestic steel factories intend to raise prices by SAR 100-150 a ton to reach SAR 2,150 – 2,200 instead of SAR 2,050 starting from January 2017, according to Okaz newspaper.
The moves came after the global hikes, as steel plants put a plan to gradually increase the prices to be in-line with the raw materials' prices, which contributes to raising the production cost.
Raw materials' price hiked as it reached SAR 1,687 ($450) per ton from SAR 1,630 ($435), with SAR 56 increase per ton, while scrap price in local market rose SAR 100 a ton to reach SAR 1,050 from SAR 950.
