After the big downturn in the price of iron during the past days, with an average of 300 pounds per ton, due to the low exchange rate of the dollar in Egyptian banks against the Egyptian pound, in addition to the decrease in the price of a ton of iron ore in the “pallet” global market, armed iron prices today witness a remarkable stability amid expectations of decreases New during the coming days, with sales declining despite the iron prices reaching a low level since the float of the pound, to record the price of a ton of rebar, the land of the factory delivery, ranging between 9200 and 9900 pounds, after a number of merchants announced a decline in prices in some factories.
The price of iron today
Iron prices fall below the barrier of 10 thousand pounds
Iron prices are recorded today after the great decline in the local market during the past few days, under the barrier of 10 thousand pounds per ton of reinforcing iron, which is in the Egyptian market as follows:
- The price of a ton of Ezz Steel: 9900 pounds.
- Price of a ton of iron with tea: 9600 pounds
- Price per ton of iron for Egyptians: 9600 pounds
- Price of a ton of iron garhy: 9500 pounds
- Price of a ton of Suez iron: 9600 pounds
- Price of one ton of ferry iron: 9400 pounds
- The price of a tonne of komi iron: 9300 pounds
- Price of a ton of iron, Egypt Steel recorded: 9300 pounds.
- Price per ton of iron decimal: 9400 pounds
Significantly lower price for tons of iron
In a report by the Central Bank in which it was stated that the price of tons of iron witnessed a series of declines during the last period, where the average price of tons per rebar was recorded:
- During the month of September, it reached about 11,500 pounds.
- And last October, about 10 thousand pounds.
It should be noted that the prices vary from one plant to another according to the quality in which production is made, and according to the name of the producing company, and the prices mentioned are handing over the factory land and about 200-300 pounds per ton are added by the merchants.
A decrease of 800 pounds per ton since the beginning of this year
Since the beginning of the current iron prices have fallen about 800 pounds, and there are expectations of further declines during the coming period on all types in light of the continued bleeding of the dollar price against the Egyptian pound and in addition to the decline in pallet prices globally, as well as the state of stagnation that is pressing the price of iron as Khaled Al Dajwi, a member The Managing Director of Al-Masiya for Iron Trade, in press statements: “The price of iron in Egypt is falling dramatically in light of the market’s fog during the current period about protection fees on iron imports and production inputs“ pallet. ”He added, noting that“ the recession controls iron sales. In the market Localization, causing some to partially close or reduce production capacity. ”
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