06:42 PM
Thursday 10 March 2022
I wrote – Sherine Salah:
Al-Marakbi Steel and Bashay joined a number of other steel companies, and raised the prices of their products for the second time this month.
Ahmed El-Zeini, head of the Building Materials Division at the Cairo Chamber of Commerce, told Masrawy that the two companies raised the prices of their products by regarding 1,500 pounds per ton in the markets.
Al-Zayni added that iron prices rose due to the increase in the metal in global stock exchanges, as a result of the repercussions of the war between Russia and Ukraine.
Yesterday, Ezz Steel Company raised the price of a ton of iron by 1500 pounds, and the price of a ton of iron in the Suez Steel Company increased by 1500 pounds, and Al-Marakby Company also raised the price of a ton of iron by regarding 1500 pounds.
Masrawy monitors the prices of rebar for factory land delivery in 5 companies following the recent increase in the price of a ton, according to the head of the Building Materials Division:
The price of a ton of iron in Ezz Steel: 17 thousand pounds.
The price of a ton of iron in the Suez Steel Company: 16900 pounds.
The price of a ton of iron in Al-Garhy Company: 15350 pounds.
The price of a ton of iron in El Marakby Company: 17,500 pounds.
The price of a ton of iron in the Beshay Company: 16900 pounds.
The average price of a ton of iron delivered to the factory land ranges between 17 and 18 thousand pounds, and the average price of a ton for the consumer ranges between 18,300 and 20 thousand pounds, according to the head of the division.
Egypt produces regarding 7.9 million tons of rebar, regarding 4.5 million tons of billets, while it imports 3.5 million tons of billets, according to data from the Chamber of Metallurgical Industries.