Riyadh – Mubasher: Average steel prices in Saudi Arabia increased in January 2020, reaching its highest level in four months, while cement prices maintained its upward trend for the fifth consecutive months to a new three-year high.

Steel prices in the kingdom recorded an average of SAR 2,550.20 per tonne, its highest level since recording 2,555.51 per tonne in September 2019, as shown by the data of the Saudi General Authority for Statistics (GaStat).

This shows a 4.38% year-on-year (YoY) in average prices last month.

Meanwhile, the average cement price went up to SAR 13.33 per bag, its highest level since November 2016, or a total of 38 months.

Cement prices increased by 4.9% YoY, while the average white cement price declined by 5.9% YoY.