According to the price lists released by the iron factories during the month of October 2022, which announced the fixation of the tonne price, amid expectations of stability or a decrease in the prices of the metal at the end of this month, iron prices witnessed continuous stability over a period of about 4 months on the local market today, Sunday, 23-10-2022.
Generally speaking, the sector is anticipating the outcomes of the government’s economic conference, which was held to debate the demands of promoting the national industry when the sector is experiencing a recession.
Along with the fall in “pallet and scrap” materials on the international markets and the decrease in demand in local markets, expectations of stability or low iron prices are expected to prevail in the upcoming time.
One of the most productive factories in the market, according to Ezz Hadid, the price of a tonne was set for the month of October to be 17. 670 pounds.
At 17,570 pounds, the Egyptians have steadied today.
The iron tonne at Al-Jarhi weighed 17,550 pounds.
The cost of the 20 tonnes of steel was roughly 17,500 pounds.
A ton of Marrakebi iron reached 17,550 pounds, and it is among the integrated factories in Egypt.
After increasing by 400 pounds in August of last year, the price of a tea factory stayed at the same levels this month, making it the most expensive among Egypt’s integrated enterprises.
According to data from the Chamber of Commerce for Mineral Industries in the Federation of Industries, Egypt produces about 7.9 million tonnes of weaponry iron, which weights about 4. 5 million tonnes, while it imports about 3. 5 million tones of “pallet.”
Reinforcement iron futures fell on October trading on the London Metal Stock Exchange, when the trading of Friday session was settled, to record $ 675 per ton, by a decrease of $ 1.
Contracts for iron scrap for October delivery decreased by $0.5 to a record $364.5 per tonne.
Currently, on Sunday, October 23, 2022, iron prices in Egypt
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