Egypt imports 300,000 T of Steel in 7 months

Big 5

Egypt has imported 300,000 tonnes of steel with the cost of EGP 1.44 billion (US$178 million) at the end of July 2015, Head of building materials division at Cairo Chamber of Commerce Ahmed El-Zeiny said Thursday.

Egypt has imported steel from Turkey, Ukraine and China, the chairman told Amwal Al Ghad.

He said that cement prices are expected to increase by 50 Egyptian pounds to reach 650 Egyptian pounds within the upcoming period due to the cement makers’ expected exploitation of demand rates.

On the other hand, steel prices would be stable to record 4,800-5,000 Egyptian pounds despite the global shrink in the prices.