Al-Hadid rises 537 riyals and records the highest level in 7 years

Iron prices in the Kingdom recorded a significant increase by the end of December 2020; Affected by an increase in the value-added tax rate from 5% to 15%, the average price per ton jumped to its highest level in more than 7 years. The average price per ton of iron reached 3006.59 riyals by the end of 2020, which is the highest average recorded since November of 2013 when it reached then At the level of 3023.4 riyals, the average price of a ton of iron increased by more than 4% during December, equivalent to 117.76 riyals per ton, compared to the November average of 2888.83 riyals. Within a year, the average price of a ton of iron increased by 537.02 riyals on an annual basis, with an increase of 21.7% compared to the average price per ton at the end of 2019 of 2469.57 riyals, and the average price of a ton of iron 6 mm national during the year 2020 was about 3489.48 riyals, and rebar is 8 mm Watani is 2758.28 riyals, followed by national 10 mm steel with a value of 2765.36 riyals per ton. The average price of a 12 mm ton of iron reached 2641.81 riyals in 2020, national 14 mm iron is 2641.94 riyals, and 16 national steel is 2631.22 riyals, and finally, 18 mm rebar is national 2629.13 riyals. As for the average cement prices, they decreased slightly in December to 14.12 riyals compared to 14.15 riyals at the end of the previous month of 2020, compared to the average in the same month of 2019 of 13.27 riyals. The price of national black cement jumped by 12.6% during December on an annual basis, The price of a 50 kg bag reaches 15.25 riyals, and therefore the price per ton is 305 riyals.

Likewise, the price of a national white cement bag increased in December by 9.87% compared to the same month of last year, reaching 40.17 riyals, and a ton of 803.4 riyals.

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