Iron prices have witnessed a decline during the past days, as the price per ton decreased from 9500 to 10,000 pounds from the factory, compared to 9800 to 10500 pounds from the factory, a decrease of 300 pounds per ton, as confirmed by the Building Materials Division of the Cairo Chamber of Commerce, where Ahmed Zeiny, head of the division Building materials at the Cairo Chamber of Commerce that iron prices are declining within the Egyptian market.
He continued: This comes thanks to the increase in domestic production thanks to the national companies, noting that the iron prices range from 9500 pounds to 10,000 pounds per ton as a price, starting from within the factory, explaining that after the commissioning of loading and transportation, the price in the market for the consumer ranges between 9800 pounds to 10200 pounds Per ton, noting that prices have witnessed a decrease in the past two months, in excess of 1,500 pounds per ton.
It is worth noting, the Building Materials Division of the Cairo Chamber of Commerce, confirmed that iron prices may witness a new wave of decline before the end of the year, and that there are several factors that control prices, the most important of which are supply and demand, then the cost of product and competition within the market, and the dollar exchange rate, contributing to a decrease in the prices of raw materials used In the iron industry, more than $ 70 per tonne, and that competition between factories contributed to increasing production, and that next year will witness the pumping of additional quantities to the market that will reach more than 5 million tons of iron, and thus the total supply will increase and this will lead to lower prices again.
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