Regarding the news of a fire at Saudi Arabia-based Saudi Iron and Steel Company (Hadeed), affiliate of Saudi diversified manufacturing group Saudi Basic Industries Corporation (SABIC), and the related cancellation of some orders, SteelOrbis has heard that the steelmaker is expected to make an announcement over the weekend or early next week.
Sources interviewed by SteelOrbis confirmed that a fire occurred at one of Hadeed’s melt shops, but indicated that the steelmaker, which has multiple melt shops, is unlikely to see a significant impact on its inventory or production.