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Iron prices witnessed a noticeable decline that reached 300 pounds per ton compared to last week, as announced by the iron companies for their new prices, and that Ezz decided to reduce its prices to record the price of 9900 pounds per ton of factory land delivery, after it was 9700 last days, and Suez Steel announced a 300 EGP decrease in Selling prices to be the new prices 9450 pounds per ton.
Ahmed Al-Zaini, head of the Building Materials Division of the Cairo Chamber of Commerce, said that there are major factors that control the determination of the price of iron, which are the prices of production inputs from raw materials and the global pallet, the price of the dollar, and any changes in them that affect the prices of iron.
“Al-Zaini” added to “Al-Masry Al-Youm” that the price of raw materials for “pallet and scrap” by about $ 400 from 410 to $ 370 delivered to factory land, and the decline in the price of the dollar last period had a positive impact on prices as well as the state of stagnation in the markets and lack of demand during The recent period has pushed factories to lower prices in order to sell their production.
The head of the Building Materials Division explained that the price of a ton of iron ranges between 9400 pounds to 9700 pounds, handing over the factory land, and the commercial selling price to the consumer ranges between 9700 to 10 thousand pounds.
“Al-Zaini” pointed out that iron prices may witness a new wave of decline in the coming days because the markets received an additional 3 million tons from the Suez Steel Factory, which pumped a million and 450 thousand tons and 2 million tons from the Egyptian Steel Factory, in addition to pumping half a million tons as well. From the factory of the Arab company in Ain Sokhna, the coming period, which will increase the supply in the markets, and thus it will have a positive impact on the prices down in light of the existing recession due to the weak purchasing power of citizens.
As for cement prices, Ahmed Al-Zaini asserts that cement prices are stable, and cement prices range between 640 to 750 pounds per ton for factory land delivery, and the commercial selling price for the consumer ranges between 770 to 820 pounds per ton, expecting the next period to decrease due to the availability of the supply of cement in the market and that demand It is much less than what is on the market.
Salameh Al-Sayed, an armored merchant, said that the recent period is witnessing a state of stagnation in sales, and that the supply in the market is much greater than the demand on the part of consumers due to the high prices of iron in the past three years and we as traders hope that sales will revive.
Mahmoud Mujahid, an armored merchant, added that the governorates of the regions are witnessing a state of stagnation in sales largely from Greater Cairo as a result of being affected by the authorities’ cessation of the illegal construction that was happening before, whether building on agricultural lands and state lands or building without licenses. He explained that the factories are witnessing a boom in sales due to the national projects implemented by the state, but the buying and selling movement of merchants is weak.
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