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FINANCIAL NEWS
Steel prices in Egypt jump to record EGP9.250 per local ton
08 Nov 2016
(MENAFN) Steel prices jumped to register EGP9.250 per local tons and EGP9.200 per imported ton, after the Central Bank of Egypt decided to float the Egyptian pound.
Accordingly, steel firms proclaimed an increase in prices at an average of EGP1.400 per ton to reach EGP8.900 ton for the consumer.
On the other hand, at the end of October, steel prices did not surpass EGP7.670 per ton across all steel firms.
However, a decrease was expected in steel prices to EGP5.200 per local ton and EGP5.800 per imported ton.
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