Saudi Arabia completed a comprehensive study to address domestic steel supply shortages. Minister of Industry and Mineral Resources Bandar Alkhorayef announced at a steel conference in Riyadh.

The study identified the potential for manufacturing seven new steel and iron products, which could create investment opportunities worth SAR 60 billion. Alkhorayef said the steel industry has faced challenges such as an oversupply of rebar, limited capacity for high-value products, and increasing import competition.

He stated that the ministry is taking strategic measures to restructure the sector, bridge supply gaps, enhance value-added production, and ensure sustainable supply chains. A detailed review of small rebar factories using induction furnaces has also been completed to boost efficiency and long-term viability.

Alkhorayef called on private companies to work with the ministry to implement these recommendations as part of the ongoing transformation of Saudi Arabia’s steel industry.