Ahmed Al-Zaini, head of the Building Materials Division at the General Federation of Chambers of Commerce, said that the steel companies announced another increase in their prices at a value of 500 pounds per ton, starting today November 27, and this increase is the second in one week, so that the total increase is 1000 pounds per ton during the month of November until 27 October.
Al-Zaini added, in a special statement to “The Seventh Day,” that the steel companies announced their monthly prices last week with an increase of 500 pounds per ton, and their customers announced this morning a further increase of the same value unanimously among the companies, so that the price per ton for Ezz Steel Group reached 11100 pounds per ton, in addition to a company Egyptian Hadeed, Beshay Steel Group, and Suez Steel Group all announced the same price, worth 11,100 pounds, to hand over the factory land.
He said that, after the new increase, the price of a ton of reinforcing iron to the consumer will range from 11,300 to 11,500 pounds per ton, so that the companies unanimously announce their price increase for the second time in less than a week.
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