The Building Materials Division expects a decline in iron and steel...

The Building Materials Division expects a decline in iron and steel...
The Building Materials Division expects a decline in iron and steel...

Ahmed Al-Zayni, head of the Building Materials Division in the Chambers of Commerce, expected a decline in iron prices In the Egyptian market, amid the decline in the price of iron ore globally, indicating that there is a state of anticipation by traders in Egypt for an expected reduction in prices in the coming days.

He added, in exclusive statements to “The Seventh Day” today, Saturday, that iron prices on factory land are still stable at 15,000 in some companies and reach 15,500 pounds as the maximum price, and for the consumer from 15,500 to 16 thousand pounds, according to the cost of transportation.

He explained that the demand for building materials in general is witnessing a state of calm and stability so far, and there are no indications of an increase in demand for a particular commodity, pointing out that the prices of bricks, tooth, sand and gypsum are also stable.

And regarding that cement prices range between 875 pounds, which is the lowest price in the Republic, and the highest price reaches 1100 pounds for some other factories, while the price for the final consumer starts from 1050 to 1200 pounds, according to the consumer, according to the transportation distance.

What about the global iron market? The Chinese Xinhua Agency revealed that iron ore stocks in 33 Chinese ports have reached 137.99 million tons, an increase of 1.71% compared to the first of November 2021, and that the past week, iron ore import prices declined significantly amid an increase in deliveries in Global Market.

The agency indicated that the production capacity utilization rates in factories in China to declines against the background of winter production restrictions and maintenance of blast furnaces in northern China, which led to a slowdown in demand for iron ore.

The Chinese agency expected a further decline in iron ore import prices next week, amid an increase in supply in the current period.

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