Iron Metal continues to decline in trading since the beginning of the new year 2020, where 3 companies, today, Thursday, January 16 | January 2020, by reducing the prices of tons of reinforcing steel, of which Egypt produces about 7.9 million tons, as well as producing about 4.5 million tons of pallets and imports less than one pallet of tons (3.5 million tons of pallets), and this decline in iron prices is the third of its kind since the beginning January This January, according to the data of the Egyptian Mineral Industries Chamber, due to iron companies’ lowering their prices to activate the movement of buying and selling in the local Egyptian market, especially with the decline in the price of iron ore globally.
Iron prices fell today, Thursday, January 16, 2020
- The price of a ton of iron in “Al-Garhy” Company has decreased to about LE 9,650 today, Thursday, January 16th | January 2020, compared to about 9,800 pounds yesterday, Wednesday, January 15th January 2020, with a decrease of about 150 pounds per ton, delivered to the factory land, and thus the company continues to reduce prices for the second consecutive day after reducing about 200 pounds on Wednesday.
- The price of a tonne of iron in “El Marakby” company decreased to about 9,650 pounds today, Thursday, January 16th | January 2020, compared to EGP 9775, Wednesday, January 15th January 2020, down about 125 pounds.
- The price of a ton of iron in “Egypt Steel” fell to about 9550 pounds today, Thursday, January 16 | January 2020, compared to about 9,750 pounds last week, down by nearly 200 pounds.
- Suez Steel and Egyptians Iron and Steel lowered the price of iron yesterday, Wednesday, January 15th January 2020, at a value of 300 pounds per ton, delivered to the factory land, to reach about 9900 pounds in both companies.