In mid-December 2022, iron prices witnessed a noticeable increase in many factories operating in the sector during the current December transactions, in addition to some factories announcing increases in their prices, especially with an increase in the price of a ton of iron during the current month by about 3000 pounds per ton.
Iron prices also rose during market trading today compared to their counterparts yesterday, as well as cement prices, according to the data of the local and international price portal of the Cabinet Information Center.
Building material prices
- The price of one ton of investment iron witnessed a new jump in the market, increasing by 812 pounds, to reach about 22,911 pounds.
- The price of one ton of Ezz Steel recorded about 25,384 pounds, while the amount of the increase amounted to about 2,464 pounds.
- The price of one ton of iron from the Suez plant was about 20,350 pounds.
- The price of one ton of Egyptian steel witnessed an increase of 3,000 pounds, to record about 23,350 pounds.
- The cost of one ton of gray cement was about 1846 pounds, an increase of 62 pounds.
The new increase in the iron price is the second in a short period, as the same companies announced at the beginning of November 2022 that they would raise prices, and this came after the sale and pricing process stopped in the last period, until the companies announce the stability of the new prices, according to the Central Bank’s decision to liberalize the exchange rate. .
Ahmed El-Zeini, head of the Building Materials Division at the Cairo Chamber of Commerce, announced that iron prices amounted to about 28 thousand pounds, with some retailers and distributors in Lower Egypt governorates, due to the recent price disturbances, which led to a significant and noticeable increase.
Al-Zaini explained that the state should closely monitor prices, in order to set prices and return them to their normal state, which leads to a large extent to price stability among merchants and distributors, stressing that the building materials market is witnessing a state of extreme chaos and confusion, and continued that merchants Distributors raise iron prices unjustifiably and without any control, to make a big profit.