Steel prices to decrease in Egypt next month: Official

Local steel manufacturers are expected to decrease steel prices by 250 Egyptian pounds Chamber of metallurgical industries Gamal El-Garhy said Tuesday.

The official noted that billet whose prices decreased by US$15 to hit US$550/ton.

Gamal El-Garhy told Amwal Al Ghad that the increase was due to the hike in raw materials internationally.

it was also due to  the hike in dollar price that reached more than 19 pounds in addition to the rise in billet prices.