Iron prices in Egypt witness new increase starting Monday

Ahmed Al-Zaini head of the Building Materials Division at the Cairo Chamber of Commerce said that iron prices rose again by about EGP 1,000 as of tomorrow, Monday.

Al-Zaini added that Ezz Steel raised the price of a ton of iron to EGP 21,450 (factory price), including 14% of the prescribed value-added tax (VAT).

He added that the Suez Steel Company raised the price of a ton of iron to EGP 21,350 (factory price), including 14% of the prescribed VAT.

Al-Zaini revealed that the price of iron in Egypt for the consumer has reached about EGP 25 thousand per ton.

Iron prices rose in Egypt to EGP 19,650 per ton in early November, then rose to EGP 20,450 per ton in early December.