NCSI chief sees continued demand for steel products

Bander Al-Sulaim, Chairman of the National Committee for the Steel Industry (NCSI), stated that demand for steel products in Saudi Arabia and the Arab world has been witnessing positive growth in recent years.

In an interview with Argaam, Al-Sulaim expressed optimism that this momentum will continue in the coming years, backed by mega projects linked to Saudi Vision 2030.

He further stated that steel demand in the Arab world increased by 8.2% between 2022-2024.

Projects such as Diriyah, NEOM, and the Red Sea, along with Saudi Arabia’s hosting of major global events such as the 2027 AFC Asian Cup, the 2034 FIFA World Cup, and Expo 2030, will all help boost demand for steel products in the local market over the coming years, Al-Sulaim said.

“GCC and Arab markets are attractive destinations with regard to export, as there are active trade and export relationships between several Saudi factories and countries in the region, with demand in these markets remaining healthy and stable,” he added.

He also highlighted that the 3rd Saudi International Iron & Steel Conference will feature participation from 35 to 40 countries, in addition to leading steel manufacturers from Saudi Arabia, the GCC, and the Arab world.