HADEED SABIC: 28.8% Sales Increase in Q1 of 2009 in the local market
Last Update: 06/05/2009 10:09:15 ArabSteel - Production of HADEED SABIC during the first quarter of 2009 amounted to 769 thousand tons of long products against 817 thousand tons in the same period of 2008 ( - 8.9%). Its production of flat products in the first quarter of 2009 amounted to 279 thousand tons against 409 thousand tons in the same period of comparison. The company has increased the volume of its sales to the domestic market of long products during the first quarter of this year, which amounted to 979 thousand tons against 760 thousand tons in 2008, i.e., at a growth rate of + 28.8%. By contrast, the sales of flats saw a decline in the first quarter of 2009 compared to the same period of 2008. The volume of the sales of flats amounted to 184 thousand tons against 328 thousand tons in the same period of 2008. The totals sales of the company of long products were concentrated in the domestic market, while it has exported limited quantities of flats. The total quantities which were exported of these products in the first quarter of 2009 amounted to 130 thousand tons against 196 thousand tons during the first quarter of 2009. The sales to the domestic market reflects presence of a growing demand in this market, while the decline of exports reflects the downturn situation undergone by the markets to which such exports have been directed.
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Saudi Iron and Steel Company
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