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Thursday, December 3 - 2009

Saudi allows steel exports to resume

  • Saudi Arabia: Tuesday, July 07 - 2009 at 12:13

Saudi Arabia has given local steel manufacturers licences to export the metal after a ban was lifted this month, a Ministry of Trade and Industry spokesman told Reuters. However, a ban on exporting scrap metals remained in place because the ministry believed local demand was still unfulfilled, the spokesman said. Saudi Arabia, the largest Arab economy, imposed a ban on steel exports last year to protect local consumers in the kingdom as domestic prices of the metal soared.

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