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Country-Plan Projects and Tenders |
| 9137 Subject |
2500 جنيه لطن الحديد وانخفاض متوقع للسعر بالسوق المحلي Market analysts predicting prices of steel rebars to drop to L.E. 2,500 per ton or less, down from L.E. 3,000 few weeks ago. |
| Date Published | Wednesday, August 17, 2005 |
| Source Name | Asharq Al Awsat |
| Location Name | Country Wide |
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Description Date Format: (mm/dd/yyyy) |
With world demand on steel declining & with prices of related production requisites & raw materials witnessing tangible reductions, observers & market analysts have predicted steel rebars prices to drop on the local market to L.E. 2,500 per ton or even less, down from L.E. 3,000 per ton few weeks ago. They expressed fears of price burning by major producers to maintain their market shares. Still the development sends utmost good news to the national construction industry, particularly considering that steel rebars represent almost 10 % of the cost of residential houses. On his side, Chairman of Port Said National Steel Co., Eng. Khaled Al Boureini, said the development was not a surprise and national producers must adapt to fluctuations of the world steel industry upwards & downwards. He revealed that price for steel billets declined lately to $ 320 per ton, down from $ 355 and those for steel scrap also declined to $ 195 per ton. He also noted that China has lately exported almost 4 million tons of billets & steel rebars. |
| Sectors Section | Beneficiary Sectors - Industry Steel - Economy Economy |
