Iron prices have witnessed a decrease in the Egyptian market since the beginning of the new year, as the price of a ton of iron inside the factory ranges between 9800 to 10400 pounds, due to the decrease in the price of the dollar to less than 16 pounds, to record about 15.81 pounds, a decrease of nearly two pounds, in addition to increasing production Egyptian and the increase in supply in the Egyptian market.
Ahmed El-Zeiny, head of the Building Materials Division of the Cairo Chamber of Commerce, said that iron prices have been stable in the Egyptian market since the beginning of the year, noting that the price per ton ranges between 9800 tons per ton from the plant, reaching the most expensive types 10400 per ton.
Al-Zaini explained to “The Seventh Day” that the price of iron for the consumer ranges between 10100 and up to 10500 the maximum price per ton, according to the transportation costs and the profit margin for the retailer and the supplier.
Al-Zaini pointed out that the dollar’s decline is a major factor in the decline in the price of iron in the markets, noting that the dollar retreated to nearly two pounds, which means that it saved nearly 800 pounds in importing billet crude, although a few factories use it, adding that A ton of scrap iron saved about 400 to 500 pounds, which is what most factories use.
The head of the building materials division of the Cairo Chamber of Commerce added that the increased supply in the market, the increase in Egyptian production in the markets, and the decline in international prices are other factors that contributed to the low price of iron.