Date : 07/09/2023
Source: MetalExpert
SAUDI ARABIA TO RESET STEEL SECTOR AGAIN
The Kingdom has an ambitious goal to reset its industrial sector and lift it to a new level. This time the government started to act decisively with the mergers and acquisitions of two flagship steel mills as the first step of the total overhaul. More changes and transformations are expected.
The Ministry of Industry and Mineral Resources presented an integrated plan to restructure the steel sector, according to the official information. The strategy includes 41 recommendations, which are bound to empower and sustain the sector, raise the efficiency of operation in factories,
and support the increase of the contribution to Saudisation. Owing to it, the
Kingdom is expected to attract at least SAR 35 billion ($9.3 billion; $1 =SAR
3.75), Metal Expert has learnt.
The total overhaul of the domestic steel sector goes in line with Vision 2030. According to Matar Al Harthi, executive vice president of the National Industrial Development Centre, the steel demand for both longs and flats will increase from 12 million tons to more than 20 million tons during the next 10 years. “It is not all about Hadeed, it will touch all mills. They cannot be able to play their own game. All producers will have to serve in the national interests,” a representative of the Saudi steel sector told Metal Expert. “Shock, suspense and blurred future for many players […] I see that the market will act synchronically without any room for improvisation,” another insider added.
The first brick has been already laid. The Public Investment Fund (PIF) announced the signing of a share purchase agreement to acquire a 100% shareholding of Saudi Iron and Steel Company (Hadeed) from the Saudi Basic Industries Corporation (SABIC) on September 3. Based on a cross-conditional share exchange agreement, Hadeed will also acquire a 100% shareholding in Al Rajhi Steel Industries Company (Rajhi Steel) from Mohammed Abdulaziz Al Rajhi and Sons Investment Company (Rajhi Invest), in exchange for newly issued shares in Hadeed. The acquisition is to be finished by the end of 2024, Metal Expert reported. “These transactions will bring together PIF’s financial capabilities and industry experience with Hadeed and Rajhi Steel’s leading technical and commercial expertise, to create a national champion in Saudi Arabia’s steel sector,” Yazeed Al-Humied, deputy governor and head of MENA investments at PIF, mentioned.
التاريخ : 07/09/2023
MetalExpert
اعادة تنظيم صناعة الحديد في المملكة العربية السعودية
قررت الحكومة السعودية بإعادة تنظيم مصانع الحديد في المملكة من خلال الاستحواذ على مصنعين وهما مصنع سابك للحديد ومصنع حديد الراجحي.
ووضعت خطة استراتيجية تتكون من 41 اقتراح من أجل السعودة والمحافظة على صناعة الحديد وتطوير ودعم كفاءتها. ومن المتوقع أن المملكة سوف تستقطب 9.3 بليون دولار في هذه الصناعة بحسب ما ذكره موقع ( MetalExpert )، وهذا ما يتماشى مع تحقيق رؤية 2030 وحسب ما قاله السيد / مطر الحارثي نائب رئيس مركز الوطني للتطوير الصناعي National Industrial Development Center بأنه من المتوقع زيادة الطلب على الحديد من 12 مليون طن إلى 20 مليون طن خلال العشر سنوات القادمة. مما سيؤثر ذلك على معظم مصانع الحديد، وعلى هذه المصانع أن تلتزم بقواعد المصلحة العامة للدولة.
تم الاستحواذ على مصنع سابك للحديد بنسبة 100% بتاريخ 3/9/2023 من قبل صندوق الاستثمارات العامة، وفي نهاية عام 2024 سوف يستحوذ مصنع سابك للحديد على مصنع الراجحي للحديد من شركة محمد عبدالعزيز الراحجي وابناؤه ( Rajhi Invest ) ومن المتوقع أن يؤدي ذلك إلى التمكن التقني والمالي من صندوق الاستثمارات العامة وخبرات مصنع سابك ومصنع الراجحي للحديد، بالتالي نهوض وتطوير صناعة وتجارة الحديد في المملكة العربية السعودية حسب ما قاله السيد / يزيد الحميد
Daily Price Assessments for Steel Products and Raw Materials (International Market)
|
Commodity |
Country |
Currency, delivery term |
06-Sep-23 |
Daily change |
|
Iron |
China |
$/t, CFR ex-Australia |
119 |
0.75 |
|
Coking |
Australia |
$/t, FOB |
269 |
0 |
|
Ferrous |
Turkey |
$/t, CFR ex-USA |
374 |
0 |
|
Ferrous |
Turkey |
$/t, CFR ex-USA |
394 |
0 |
|
Ferrous |
Japan |
JPY/t, FOB |
50,500 |
0 |
|
Ferrous |
Netherlands |
$/t, FOB |
348 |
0 |
|
Ferrous |
Netherlands |
$/t, FOB |
353 |
0 |
|
Square |
China |
RMB/t, EXW Tangshan, incl. 13% VAT |
3,570 |
-10 |
|
Square |
China |
$/t, CFR ex-ASEAN |
476 |
-1 |
|
Square |
China |
$/t, CFR outside ASEAN |
468 |
-1 |
|
Square |
CIS |
$/t, FOB |
470 |
0 |
|
Square |
Turkey |
$/t, CFR |
505 |
10 |
|
Rebar, |
Turkey |
$/t, EXW, еxcl. 18% VAT |
585 |
-10 |
|
Rebar, |
Turkey |
$/t, FOB |
580 |
0 |
|
Rebar, |
Germany |
EUR/t, CPT |
570 |
0 |
|
Wire |
China |
$/t, FOB |
545 |
0 |
|
HRC, |
China |
$/t, FOB |
570 |
0 |
|
HRC, |
Vietnam |
$/t, CFR |
585 |
0 |
|
HRC, |
Germany |
EUR/t, EXW, еxcl. 19% VAT |
645 |
0 |