Iron prices—
The beginning of this week saw a number of iron companies reduce rebar prices, coinciding with declining demand for it with an abundance in inventory at the factories, as well as a decrease in the international price of raw materials, according to statements made by the Director of the Chamber of Metallurgical Industries of the Federation of Industries “Muhammad Hanafi”, The reason behind the decline in prices is the abundance of inventory in factories and the low rates of buying interest in iron.
With the obligations of those factories, such as workers ’wages and monthly bills, the factories chose a 10% loss in price cuts, rather than a 100% loss and closure, and the opinion of the head of the Diamond Iron Trading Company came in line with the previous opinion, as Hanafi pointed to the current price of a ton of iron, which Ranging from 9306 pounds to 9630 pounds handing over the factory land.
Iron price
The price of the pallet was 395 dollars, after its price before retreating was 420 dollars per ton, and the price of a ton of Ezz Steel decreased by 100 pounds, to record 9.900 pounds for the lengths and 9.630 pounds for coils, including tax and delivery, the factory land, and the decline in the price per ton of Suez Steel 300 Pounds, for a ton price of 9.450 pounds for lengths and 9.350 pounds for coils.
As for the Bisha company for steel, it has decided to reduce its prices by 400 pounds in the price of a ton, bringing the price of a ton to 9600 pounds after it was 10 thousand pounds last month, and the price of rebar in Al-Garhi Company decreased by 150 pounds per ton, to record 9500 pounds, while it retreated The price of a ton in Al-Marakby company is 250 pounds, and the tonne records 9400 pounds. According to the statements, it is expected that these prices will continue for a while.
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