Data: SHFE, DCE market movement (Jul 17)

Saudi Arabia’s Al Yamamah Steel Industries Co. announced that its subsidiary, Al Yamamah for Reinforcing Steel Bars, has signed a contract worth 270 million Saudi riyals ($72 million) with a European specialized company for the manufacture, supply, and installation of equipment for its steel billet production plant. The contract was signed on July 14 and spans two and a half years, with its financial impact expected to materialize in H2 2028. This equipment contract is part of Al Yamamah’s steel billet production project, aimed at strengthening backward integration and securing the raw material supply needed for its long product manufacturing. Al Yamamah Steel specializes in producing and selling a variety of products, including welded pipes, sheets & plates, rebar, and three-dimensional space structures, primarily serving the construction and infrastructure sectors. The company also produces galvanized steel lighting and distribution poles, high-mast structures, and galvanized steel lattice towers for the power and electricity distribution industry. Its production facilities are strategically located in Jeddah, Dammam, and Yanbu.

[SMM Hot-Rolled Coil Daily Trading Volume] On July 17, the total daily trading volume of hot-rolled coils for sample enterprises from SMM’s four cities (Shanghai, Lecong, Tianjin, and Ningbo) reached 12,210 mt, down 410 mt (-3.2% DoD), with YoY +13.90% (solar calendar) and -11.97% (lunar calendar).