Iron price watches 100 EGP decline in March: official
Steel - REUTERS/Ajay Verma
By SAMAH LABEEB

CAIRO: The iron selling prices edged down to 5000 EGP ($718) per ton on Friday, as Egypt’s market is in a recession caused by the political incidents during the past period.

Sharif Goda, an agent for iron companies, announced Friday that Egyptian companies have decreased their iron selling prices by 100 EGP ($14.3) per ton in March, because of the decrease of international market prices, the ongoing recession in Egypt and large amounts of iron imported from Turkey.

While, over the last 30 days the cement prices edged higher by 180 EGP to value 800 EGP per ton, Goda told Youm7. The government did take measures to control this major price increase of cement, he said, although it could contribute to the recession.

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