08:06 PM
Saturday, December 17, 2022
I wrote – Sherine Salah:
Ahmed Al-Zaini, head of the Building Materials Division at the Cairo Chamber of Commerce, told Masrawy that the prices of reinforcing steel will witness a new increase, according to what some companies announced, in the market by about two thousand pounds per ton, as of tomorrow, Sunday.
According to Al-Zaini, the price of a ton of rebar, delivered to the factory land at Ezz Steel Company, will rise to 23,450 pounds, and the price of a ton of rebar at the Suez Steel Company will rise to 23,350 pounds per ton, an increase of two thousand pounds per ton.
Al-Zaini mentioned that the price of a ton of iron in the Egyptian Steel Company is 23,350 pounds.
The price of a ton of iron delivered to the factory land rose by about 1,800 pounds in a number of companies from the beginning of this December until the middle of the month, to continue its rise by the end of the month, bringing the total increase to 3,800 pounds in some companies.
Al-Zaini attributed the increase in prices to the increase in the price of the dollar and the shortage of crude stocks in factories.
According to data from the Chamber of Metallurgical Industries of the Federation of Industries, Egypt produces about 7.9 million tons of reinforcing steel and about 4.5 million tons of billet, while it imports 3.5 million tons of billet.