Saudi Arabian steel producer Riyadh Steel Co. reported a 145.8pct YoY increase in net profit to SAR 6.03 mln (USD 1.61 mln) in the first half of 2026.
Revenue declined 15pct YoY to SAR 70.1 mln (USD 18.7 mln), mainly due to lower sales volumes. However, higher selling prices and lower raw material costs significantly improved profitability.
Riyadh Steel has a total annual capacity of 220,000 tons of sheared scrap, 105,000 tons of billets, and 90,000 tons of angle and flat bars.
1 USD / 3.75 SAR