Riyadh: Indicative price indices for iron and steel scrap in Saudi Arabia have been launched, developed according to a methodology based on local market data, as part of efforts to enhance market transparency and provide pricing tools and information that help market participants understand price trends and improve decision-making efficiency in the sector.
According to Saudi Press Agency, the indices launched by Fastmarkets in coordination with the National Industrial Development Center and a number of sector stakeholders include a general indicative index for iron and steel scrap prices across Saudi Arabia, in addition to indices covering Eastern Region, Riyadh Region, and the western region, contributing to a more comprehensive picture of market trends and regional differences.
The company's general index shows that the price of iron and steel scrap reached SAR1,826 per ton on September 8, 2026, excluding value-added tax.
The center's coordination with stakeholders comes within the framework of its role in developing industrial enablers, enhancing market transparency, improving the efficiency of local supply chains, and supporting the growth and competitiveness of priority industrial sectors, in line with the objectives of Saudi Vision 2030.
The importance of developing market indices is highlighted by the size of Saudi Arabia's iron scrap market, estimated at about 3.5 million tons annually, alongside an iron industry production capacity of about 16 million tons annually. This underscores the importance of providing diverse and transparent market information to support the sector's efficiency and sustainability.