“Metal” losses increased 28% to 40.3 million riyals in 2024

The losses of the National Company for Metal Classification (Metal) increased in 2024 by 28% to 40.3 million riyals, compared to 31.5 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the reasons for the high losses during the current year compared to the previous year are due to the decrease in sales of mineral instruments and the decrease in the average selling prices for the products of the withdrawn wires.
The reasons included: high expenses of sale, distribution and public and administrative expenses.
Among the reasons for the high losses during the current year is a decrease in other revenues, the low profits of bank deposits, the high banking expenses, in addition to the increase in losses from unusual operations.