Fastmarkets Deepens Saudi Scrap Price Ties With NIDC Under Vision 2030
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London – September 17, 2026 -- Fastmarkets has confirmed ongoing stakeholder engagement with Saudi Arabia's National Industrial Development Center (NIDC) to further develop its ferrous scrap price indices in the Kingdom, as the country builds out its steel and recycling infrastructure under Vision 2030.
Fastmarkets launched its first Saudi scrap benchmark in August 2025
The price reporting agency introduced its steel scrap HMS 1&2 index, domestic composite, delivered Saudi Arabia, riyals/tonne (code MB-STE-0939), in August 2025 following consultation with local market participants, including NIDC.