Iron and cement prices differed during trading today, Sunday, December 18, 2022 in the markets, compared to their levels yesterday, Saturday, according to the data of the local and international price portal of the Cabinet Information Center, as 3 iron factories took a decision that would increase the price of iron, which started from today, Sunday. Corresponding to 12/18/2022, and among these factories is Ezz Steel, which decided to increase the price of a ton of iron for coils of length to be 23,450 pounds, including the 14% value-added tax prescribed for Ezz Steel, instead of 20,450 pounds, an increase estimated at regarding three thousand pounds.
Iron and cement prices
- The price of a ton of investment iron reached 21,446 pounds, an increase of 310 pounds.
- While the price of a ton of Ezz Steel reached 22914 pounds, an increase of 1251 pounds.
- The price of a ton of gray cement amounted to 1746 pounds, down 13 pounds.
It is worth noting that Ahmed Al-Zaini, head of the Building Materials Division at the Cairo Chamber of Commerce, said earlier today that reinforcing steel prices will witness a new rise, according to what some companies revealed, in the market by regarding two thousand pounds per ton, starting from Sunday, including: Ezz Steel and Suez Steel Company.
It is noteworthy that the Central Bank of Egypt decided, on October 27, to take a set of exceptional decisions related to withdrawal and deposit limits for individuals and companies, whether through bank branches or automated teller machines. , as it was announced that the price of the return on deposit and lending for one night, and the price of the basic operation of the Central Bank, increased by 200 basis points; To be 13.25%, 14.25%, and 13.75%, respectively. In the same context, Hassan Abdullah, Governor of the Central Bank, said that the value of the Egyptian pound will be set once morest all other foreign currencies according to the forces of supply and demand within the framework of a flexible exchange rate system, while allowing priority to be given. For the main purpose of the Central Bank, which is the stability and control of prices.
