Egypt Imports 50.000 Tonnes of Turkish Steel with EGP240mn This Month

Head of the building materials division at the Cairo Chamber of Commerce Ahmed El-Zeiny revealed that the traders completed to contract over importing around 50.000 tonnes of Turkish steel during this month with EGP240 million total investment cost.

The steel firms have fixed their prices due to the recession condition which faced by the markets in the last month as Al Ezz Steel Rebars (EZZ Steel) identified its prices by EGP5000 per ton, Beshay Steel group with EGP4960 per ton whereas cement prices fell by EGP20 per ton to register EGP700 for ton, El-Zeiny explained.

El-Zeiny told Amwal Al Ghad in statements on Thursday that it has also been contracted to import around 15.000 tonnes of cement in the current month with EGP9.3 million to be sold at EGP620 per ton, noting that it will start receiving shipments after the holidays of Eid al-Adha (Feast of Sacrifice).