We follow with you through our website the price of iron in Egypt today, Monday 10/2/2020, after the prices were recorded in the beginning of the day’s transactions and in the evening dealings a noticeable decline in a large number of companies, due to the suffering of the iron-producing factories from many crises, the most important of which is the stagnation of purchases Despite entering midwinter, many people had to cut prices.
The price of iron in Egypt today
Ezz Steel Company, which is one of the largest companies producing iron reinforcement in Egypt, announced that it has reduced its iron prices by 100 pounds per ton, so that its new prices will be 9900 pounds for lengths, and 9,630 pounds for coils including the factory delivery tax, in addition to that the Suez Steel Company announced a reduction The price of iron is 300 pounds, and the sale price per ton is 9450 pounds, and 9350 pounds for lengths and coils, respectively.
Reasons for the low prices of iron in Egypt
Economists attributed the decline in iron prices to the decline in prices globally, as scrap and pellet prices fell in conjunction with the decline in the dollar prices, as factories are forced to make cuts in line with the prices of other companies, to maintain their competitiveness and stability in the sale, and analysts explained that the iron market suffers The recession is currently the result of the winter and rainy season, which impedes transportation and construction, and thus low demand in private construction and housing projects.
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