Iron prices fall significantly

Steel prices in the Egyptian market have fallen sharply, dropping by up to 2,500 Egyptian pounds per ton after months of increases. This decline is due to a drop in global raw material prices, stable exchange rates, increased supply from local factories, and seasonal demand reduction during the summer. Meanwhile, Suez Steel, Egypt’s largest producer, maintained its price at 39,850 pounds per ton, while prices from major factories ranged between approximately 37,500 and 39,850 pounds per ton. Medium and small factories are offering more competitive prices, around 34,200 pounds per ton, providing contractors and project owners with an opportunity to significantly reduce construction costs. Prices are expected to remain stable or experience a slight decline in the near future.

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