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Egypt: stability of iron prices in the local market and a jump in steel exports

The Building Materials Division of the Chambers of Commerce announced that steel prices in Egypt recorded levels of 15,000 pounds in some factories and reached a maximum of 15,500 pounds, according to what was announced by the producing factories, and it reaches the consumer at levels up to 16,000 pounds, despite announcing the abolition of import duties for billet and rebar .

Egypt’s exports of iron and steel rose by 193% to record 1.311 billion dollars during the period from January to September 2021, compared to 447 million dollars in the same period last year, according to the export and import control report sent to the Export Council for Building Materials.

The report of the Export Council of Building Materials revealed that Italy is the most importer from Egypt, with a value of 329.6 million dollars in the first 9 months of this year, compared to 30.13 million dollars in the same period last year, an increase of 994%, followed by Spain with 305 million dollars, compared to 93 million dollars, an increase 676%.

The report revealed that the United States of America imported at a value of 129 million dollars, compared to approximately 12 million dollars in the same period last year, with a rise rate of 993%, and Saudi Arabia ranked fourth in terms of imports with 105.2 million dollars.

Canada ranked fifth with 65.6 million dollars in the first 9 months of this year, compared to 10.5 million dollars in the same period last year, and Brazil imported 51.7 million dollars against 754 thousand dollars in the period from January to September 2020.

 

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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