Riyadh Steel Company, engaged in the steel industry and scrap metal sales, has reported a sharp decline in profits for 2024, amounting to SAR 2 million, an 82% decrease compared to SAR 11.1 million in 2023. The reduction in profit was attributed to lower selling prices, reduced other revenues, and higher expenses. Despite these challenges, the company saw an increase in revenues due to higher sales volumes compared to the previous year.