Electrical Appliances Dept: Metal prices up 5% without layoffs
The article focused on the state of the electrical appliances market in Egypt, explaining that the sector is experiencing a stagnation due to an abundance of goods and weak demand. However, talk of widespread layoffs is an exaggeration, as there have been no significant changes in permanent employment. The report indicated that a 16% increase in sheet metal prices led to a roughly 5% rise in the prices of electrical appliances, with manufacturing plants relying on Bellite ore facing certain issues. Additionally, the percentage of imported components ranges between 40% and 45%. It was also confirmed that some factories have achieved local component rates of up to 80%, and that the sector possesses significant export capabilities. Nevertheless, sector debts to banks have not been precisely specified, and the market remains sluggish. It is important to distinguish between pressures affecting some companies and the overall state of the industry.
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