Egyptian steel and iron prices fall, cement rises in November: CAPMAS

Wednesday 12 Dec 2012

Official statistics agency, CAPMAS, says iron and steel prices fell in November, cement prices rose

Statistics published by Egypt's official statistics agency, CAPMAS, show the price of iron per tonne fell 0.21 per cent in November and steel rebar prices were LE4240 ($688.8) per tonne compared to LE4249 in October.

Two weeks ago the ministry of industry and foreign trade imposed a protective tariff of 6.8 per cent on imported steel rebars, at a minimum charge of LE299 per tonne, for 200 days.

The decision came in response to demands by Egyptian steel producers to protect the local market from imported steel rebars, especially those coming from Turkey and Algeria, which are cheaper than locally produced steel. 

CAPMAS reported a 2.3 per cent increase in the price of Portland cement (the most common type of cement) in November to reach LE26.28 for a 50kg bag. 

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