*Talal Al - Sayyah from Riyadh
National steel prices in Saudi Arabia rose 9.1% to reach 20.6% at the end of March 2018 compared to the same period last year.
According to the analysis of the reports unit in the newspaper "Aleqtisadiah" was based on the data of the General Authority for Statistics.
The value of the iron types of various sizes was between 6 and 18 millimeters, about 232 riyals to 452 riyals per ton.
The most developed in the average price of iron was "10 millimeters", as it rose by about 452.2 riyals per ton from 2194 riyals per ton by the end of March 2017 until the price of tons reached 2646 riyals per ton by the end of March 2018.
And then reinforcing steel "8 mm" by about 451.7 riyals per ton, from 2200 riyals to 2652 riyals per ton,
It is followed by the size of "6 millimeters" at about 271.2 riyals per ton from 2969 riyals to 3240 riyals per ton.
While, the iron size "18 mm" rose by about 241.1 riyals per ton, from 2109 riyals to 2350 riyals by the end of March 2018.
The size of "16 millimeters" increased by about 240.1 riyals per ton from 2111 riyals to 2351 riyals per ton.
The size of "14 mm" increased by about 238 riyals per ton, from 2113 riyals to 2351 riyals. And then "12 millimeters" was at about 232.4 riyals per ton from 2118 riyals to 2351 riyals.
Aleqtisadiah recently published a report that is showing the average domestic iron price rise at the end of March 2018 to a 40-month high of 2563 riyals per ton.
The average price of a ton of iron locally-by the end of March of this year-amounted to about 2563 riyals per ton. It is registering a growth rate of 13.5 per cent, equivalent to 304 riyals per ton, compared to the average price during the same month of the previous year 2017 of 2259 riyals per ton.
The increase in iron prices in Saudi Arabia is due to several reasons, including the possibility of allowing local iron producers to export, in addition to the growth in international oil prices, which increase the cost of raw materials for the iron industry such as the cost of mining, in addition to the high cost of labor in Saudi Arabia.