04:12 PM
Thursday, January 12, 2023
I wrote – Sherine Salah:
Ezz Steel, Suez Steel and Egyptian Steel Company raised the price of a ton of iron for factory land delivery, at a value ranging between 2500 pounds and 2553 pounds in the markets, as of yesterday, Wednesday, according to Ahmed Al-Zaini, head of the Building Materials Division at the Cairo Chamber of Commerce, to Masrawy.
According to Al-Zaini, the price of a ton of iron delivered to the factory land at the Suez Steel Company rose today to 25,850 pounds, compared to 23,350 pounds.
Al-Zaini attributed the increase in iron prices in the companies to the jump in the price of the dollar during the current period.
The price of the dollar jumped during Wednesday’s trading until it reached 32 pounds, before it retreated and traded at 30 pounds.
The average price of a ton of iron in the market for investment factories is 27,000 pounds, while the average price of a ton of iron in rolled factories ranges between 28,000 and 28,500 pounds, according to Al-Zaini.
According to data from the Chamber of Metallurgical Industries of the Federation of Industries, Egypt produces regarding 7.9 million tons of reinforcing steel and regarding 4.5 million tons of billet, while it imports 3.5 million tons of billet.
