100-150 EGP decline in steel prices: manufacturers
Steel - REUTERS/Ajay Verma
By SAMAH LABIB

CAIRO: Beshay Steel and Misr National Steel (ATAQA) announced Saturday that prices for March will witness a decline of 100-150 EGP per ton.

Beshay Steel and Misr National Steel (ATAQA) announced that the selling price of delivered steel from the factory is 4,850 EGP (U.S. $697) and 4,800 EGP per ton respectively. Steel will be sold to the final consumer for 5,000 EGP and of 5,050 EGP

This announcement came one day after Ezz Steel declared that prices in the markets for March will fall by 100 EGP per ton.

The selling price of delivered steel from Ezz Steel factories is 4,850 EGP instead of 4,950 EGP per ton, and steel is sold to the final consumer for 5,050 EGP instead of 5,150 EGP.

Steel agent Sherif Gouda told Youm7 Friday that the decline of steel prices was come in accordance with the international decline of steel prices, which is sold at $535 per ton internationally.

Gouda said it is expected that the price of steel will decline in Egypt by 200 EGP, consistent with the prices of raw materials and steel internationally. However, the energy crisis on the factories prevented prices from declining past those of their international counterparts.

Originally published in Youm7.

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