3800 per ton.. A significant increase in the price of iron

The price of a ton of iron has increased in the markets in recent days after some companies decided to raise it for the third time this month.

Ahmed Al-Zaini, head of the Building Materials Division at the Cairo Chamber of Commerce, said that the price of a ton of iron for the consumer reached 30,000 pounds in the markets in Upper Egypt, while the price per ton in Cairo reached about 28,000 pounds.

A source in the iron sector accused some agents of being behind the increase in the price of a ton of iron in the markets to these levels.

Iron prices rose 3 times in a row during the month of December in the markets, with a total of 3800 pounds per ton, Factory land delivery in some companies was the last of which was a few days ago, with an increase of about 2000 pounds per ton.

The price of a ton of rebar, delivered to the factory land at Ezz Steel Company, has now increased to 23,450 pounds, and the price of a ton of rebar at the Suez Steel Company has risen to 23,350 pounds per ton, and the price of a ton of iron at the Egyptian Steel Company has risen to 23,350 pounds, according to Al-Zaini.

Al-Zaini attributed the increase in prices in companies to the increase in the price of the dollar and the shortage of crude stocks in factories.

According to data from the Chamber of Metallurgical Industries of the Federation of Industries, Egypt produces about 7.9 million tons of reinforcing steel and about 4.5 million tons of billet, while it imports 3.5 million tons of billet.

Building materials

Exports of the building materials and metal industries sector grew by 8% during the period from January to last October, and the value of exports increased to 5 billion and 751 million dollars, compared to 5 billion and 326 million dollars for the same period last year.

Exports decline

A report issued today by the Building Materials Export Council revealed that exports of the iron sector amounted to $1.1 billion, compared to $1.4 billion, a decline of 23%, while aluminum exports amounted to $595 million, compared to $641 million, a decline of 7% for the same period. From last year, copper exports increased by 24%, to reach $370 million, compared to $298 million.

Sanitary ware exports

Sanitary ware exports declined by a very slight percentage, recording $131 million, while cement sector exports jumped by 41% to record $565 million, compared to $402 million, Egypt's glass exports amounted to $384 million, compared to $345 million.