Prices of home appliances expected to rise following a climb in input prices

Prices of home appliances are expected to jump in the new year following an increase in input prices for companies manufacturing electrical appliances in Egypt. Factories manufacturing in Egypt are facing a surge in steel prices, with the most recent increase by Ezz Dekheila Steel Company (Ezz Steel) earlier this week.

The steel producer upped its prices of hot-rolled sheet metal to reach around LE 40,000 per ton, according to Mohamed Hanafi, Executive Director of the Chamber of Metallurgical Industries in the Federation of Industries.

Manufacturers usually increase their prices according to the prices of input (materials required for production), explained Hassan Mabrouk, head of the Electrical Appliances Division at the Chamber of Engineering Industries (CEI), to Al Borsa on Monday.