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Country-Plan Projects and Tenders |
| 9354 Subject |
زيادة سعر حديد التسليح والاسمنت Steel rebars prices joining the wave of increases started earlier with cement, both placing heavy burdens on the country construction industry |
| Date Published | Tuesday, September 27, 2005 |
| Source Name | Gomhouria |
| Location Name | Country Wide |
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Description Date Format: (mm/dd/yyyy) |
Weeks after cement prices have increases to L.E. 300 + per ton, steel rebars prices joined the wave to increase by L.E. 250-300 per ton. Both developments place heavy burdens on the country construction industry. Steel rebars prices, which average L.E. 2,682 per ton in May 2005 declined to L.E. 2,531 in July & August 2005, then increased in September 2005 to L.E. 2,780 & to L.E. 2,800. Some industry executives attributed the development to a certain economic activation witnessed since early September 2005, after two months of stagnation & recession and that was coupled with diminished steel rebars imports after consumers at home voted in favor of high quality local production. On the top came the shut down of some local production lines for maintenance & rehabilitation for a week or two. Other industry executives including a source of Ezz Dekheila Group attributed the development to large size purchases on the steel world market effected by the US & China resulted in raising prices of steel scrap to $ 240 per ton (up from $ 150 per ton 3 months ago) and those of steel billets to $ 340 per ton (up from $ 290). While no mention was given to a possible impact of increased steel (also cement) exports, several industry executives predicted steel prices to soon calm down and stabilize around L.E. 2,900 per ton supported by a stable Pound/ Dollar rate. N.B. Such unjustified ups & downs in the prices of strategic products and accompanying manipulations would continue in the absence of transparent statistics on their production, imports and exports. Transparency here offers the sole and undoubted security and protection from all such business malpractice’s |
| Sectors Section | Beneficiary Sectors - Industry Steel Cement - Economy Economy |
