Hardmetal raw material cost increase

Since its establishment in 1979, the Saudi Iron and Steel Company (Hadeed) has been a cornerstone of the Kingdom’s industrial and construction growth. As the largest iron and steel producer in the Gulf Cooperation Council (GCC), Hadeed offers a broad range of high-quality long and flat steel products. The company began production of long steel in 1983 and expanded into flat steel products in 1998. Over the decades, Hadeed has cemented its role as a strategic player in the Saudi industrial ecosystem, contributing significantly to national development goals and playing a pivotal role in enabling Saudi Vision 2030. In May 2024, Hadeed entered a new era of growth when the Public Investment Fund (PIF) acquired the company. Shortly thereafter, Hadeed acquired 100% of AlRajhi Steel Industries (AlRajhi Steel) through a share-based transaction, bringing AlRajhi Invest on board as a shareholder in Hadeed. This acquisition has further strengthened Hadeed’s capabilities, broadened its product offering, and reinforced its leadership in the regional steel industry. Guided by a clear strategic direction, Hadeed’s vision is to be the preferred local and regional leader in the steel industry. Its mission is to offer customers quality, innovative, and diverse steel solutions while upholding the highest standards of environment, health, safety, security, and reliability. Through its continued evolution and commitment to excellence, Hadeed remains focused on maximizing stakeholder value and contributing meaningfully to the realization of Saudi Vision 2030.

Ezz Steel is one of the fastest growing and most technically advanced steel producers in the world. It is the largest independent steel producer in the Middle East and North Africa, exporting high-quality steel products to many countries on four continents around the world. It has become established as a technological leader in the steel industry, having invested more than $6 billion in the most advanced steelmaking technology.

The company’s four purpose-built, state-of-the-art plants are strategically located close to major road links and international ports. They are located in Alexandria, Suez, Sadat and 10th Ramadan cities. The Alexandria mill serves export customers – through the Mediterranean – in Europe and the U.S.A., while the Suez mill, with close proximity to Sokhna port, is in the best location to meet export requirements in the Gulf and further afield in the Asian markets. Together, all mills have the capacity to produce 7 million tons of steel per year, with 4.7 million tons of long products capacity and 2.3 million tons of hot-rolled coil (HRC) capacity. These products are manufactured in more than 450 grades with precisely controlled properties to meet the demands of many challenging applications in the construction, manufacturing, engineering and transport sectors.

The primary focus for Ezz Steel is to continue its expansion to keep pace with growing demand. At the same time, the company remains devoted to investing in sustainable operations and technologies, upholding its position as a modern, efficient and forward-looking steel producer.