Fastmarkets has launched indicative scrap steel prices indices in Saudi Arabia based on local market data, aiming to enhance market transparency and provide pricing information that supports decision-making for stakeholders in the sector.
The price of scrap steel in the Kingdom reached SAR 1826 per ton on Tuesday, September 8, 2026, excluding value-added tax, according to the general index.
The indices, developed in coordination with the National Industrial Development Center and sector stakeholders, include a general index for the Kingdom, alongside indices for the Eastern Province, Riyadh, and the Western Province.
The National Center affirmed that the indices are independent and non-binding indicative indicators, and do not represent official prices or recommendations for buying or selling. Actual prices remain subject to supply and demand and negotiation. The Saudi scrap steel market volume is estimated at approximately 3.5 million tons annually.
These indices gain importance given the volume of the scrap steel market in Saudi Arabia, estimated at about 3.5 million tons annually, in parallel with a steel production capacity of about 16 million tons annually. This makes the availability of more accurate and transparent local pricing data an important factor for improving the efficiency of scrap market transactions and supporting the decisions of producers and buyers.
• Fastmarkets is a global specialist in commodity data and price assessments, covering steel and scrap markets. It provides indices based on market data, supply and demand, and transaction activity.
