Fall in iron prices on Friday:
With a new beginning at the end of the third week of the new year 2020, the Egyptian Stock Exchange announced a sudden decrease in the prices of tons of iron, and the decline has reached 100 pounds per ton in the process of buying and selling.
Iron prices are affected as a result of many factors, the most important of which are the prices of materials that are used to arm iron, as well as labor that helps in the production process. The price of the US dollar plays a fundamental role in decreasing or rising prices.
Iron prices according to several manufacturers on 24/1-2020:
|the manufacture company||the prices|
|Ezz Steel||10200 Egyptian pounds|
|Iron of the Egyptians||9850 EGP|
|Al-Garhi Iron||9650 EGP|
|Suez Iron||9900 Egyptian pounds|
|Egypt Steel||9450 EGP|
Reasons for the low price of a ton of iron in the Egyptian market:
The developments that occur in the prices of building materials in the Egyptian market are due to many factors that make traders forced to reduce prices in the market, and among those important reasons is the ratio of supply and demand.
In the recent period, the levels of purchasing iron decreased in the Egyptian rustling, which made the rate of stagnation in the process of buying and selling, and this led to the fact that traders reduced prices to keep up with the market need to buy and sell.