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Building Materials Division: Importing 150,000 tons billet next week from Ukraine and Russia

Ahmed El-Ziny, head of the Building Materials Division in the Chamber of Commerce, revealed that the Egyptian ports will receive 150,000 tons of billets next week from Ukraine and Russia, which will contribute to reducing iron prices during the coming period, noting that rolling mills based on billets sell tons of rebar for delivery, factory land at a price ranging between 13800 to 14000 pounds.

He pointed out, in exclusive statements to “Youm7”, that the Egyptian Ministry of Industry’s decision to cancel fees of 25% on imports of rebar and 15% on imports of billet contributed to creating availability and a diversified supply for consumers, noting that the price of rebar in integrated cycle factories ranges between 14900 to 15000 pounds delivery of the factory land.

In November 2021, the Ministry of Industry decided to stop the work of Resolutions No. 907 of 2019 and 168 of 2021, regarding the imposition of preventive measures on imports of billet, rebar and aluminum products.

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