Egypt Buys 100.000 Tonnes of Turkish Steel This Month

Big 5

During this month, Egypt imports around 100.000 tonnes of Turkish steel.

Egypt’s government has bought around 100.000 tonnes of Turkish steel, at total cost of 480 million Egyptian pounds, Ahmed El-Zeiny – head of the building materials division at the Cairo Chamber of Commerce, told Amwal Al Ghad.

Importing those amounts of steel, El-Zeiny attributed that the government aims to fight the recent ‘unjustified’ steel price hikes (around EGP 150 a tonne).

The Egyptian official further said the government received yesterday, Saturday the first shipment of the Turkish steel which amounts to 16.000 tonnes, while the remaining quantities will be received later through other shipments within the current month.