Today, Wednesday, November 2, 2022, the local market’s prices for reinforcing iron showed stability after rising by 2000 pounds per tonne due to the strengthening of the dollar against the pound, while the construction materials division deemed those heights to be unreasonable.
The ton’s price was increased by “Ezz Iron” to 19650 pounds.
The cost of “Suez Iron” per tonne jumped to 19550 pounds.
The “Egyptian iron” also increased the cost per tonne to 19550 pounds.
The factory land cost 19600 pounds more after the price of a tonne of “iron tea” increased.
After the companies announced a new increase, the cost of a tonne of iron for the consumer rose to 20,000 pounds.
Al-Banna Materials Division has an unreasonable price increase: Ak Ahmed Al-Zaini, head of the Federation of Chambers of Commerce’s Building Materials Division, stated that the increase in iron prices for companies.
Al-Zaini further stated that within four days, a rise from 1980 in the number of communications delivered by the corporations to integrated businesses.
Despite the low price of iron around the world, he said, “Knowing that he did not import and all manufacturers have supplies and worldwide prices are generally.”
“The increase is not expected to come from the ground; it is also unwarranted, as prices in Russia are lower than those in Egypt.
An examination into the matter of this growth is necessary.
He continued, “The state will intervene and know whether there are reasonable reasons for increasing prices,” emphasising that a 2,000-pound increase in the price of iron would result in a 10% increase in real estate costs.
After reaching a high of 2000 pounds per tonne today, November 2, 2022, iron prices
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