September 06, 2008

HADEED sales in January to September up by 13% YoY

Saudi Iron & Steel Company has posted total sales of long and flat products at 3.3 million tonnes during January to September 2007 period up by 13.2% YoY as against 2.9 million tonnes in January to September 2006 period.

The sales to the domestic market accounted for 89% of the total sales or 72% long products and 28% flat products.

It may be noted that the total sales of flats increased during the comparative period in 2007 by 26% over the level of 2006. Most of the sales concentrated on the hot rolled products of which the production amounted to 619131 tonnes during January to September 2007 period up by 58% YoY as against 391510 tonnes in January to September 2007 period.

Compared to the increasing sales to the domestic market during the past period of 2007, the volume of exports declined and constituted during the past period of 2007 less than 20% due to the growing demand in the domestic market, for the long or flat products.

HADEED has also increased its production at 3.4 million tonnes during January to September 2007 period up by 19% YoY as against 2.9 million tonnes in January to September 2006 period. It expects its production by the end of 2007 to reach 4.5 million tonnes, which constitutes an increase of 21% over the level of 2006.