Three Egyptian steel producers hike steel prices by 200 pounds

Three Egyptian steel producers have raised steel prices for the local market by 200 Egyptian pounds ($11.205) per tonne, Cairo Chamber of Commerce announced Tuesday.

Suez Steel raised steel prices to reach 10,700 pounds per tonne on an ex-works basis, while in Egyptian Steel and Beshay Steel, the prices hit 10,700 pounds and 10,715 pounds per tonne, respectively, said Ahmed El Zeiny, head of General Building Materials at Cairo Chamber.