Several steel companies have reduced their prices by LE25-LE100 per ton, compared to April's prices.
Elmarakby Steel has reduced its prices by LE25 to sell at LE4,850 per ton. Eastar Egypt lowered its prices by LE90 to LE4,760 and Egypt Steel by LE100 to LE4,850.
Other companies have maintained their prices. Ezz Steel is selling for LE4,990 per ton, Beshay Steel LE4,900, Misr Steel LE4,900, Metad Helwan LE4,965, Sarhan Steel LE4,820, Port Said Steel LE4,920, IEC LE4,820, Egyptian Steel LE4,900, Suez Steel LE4,690, Delta Steel LE4,900, Maadi Steel LE4,800 and Midi Steel LE4,850.
Supply and Internal Trade Minister Khaled Hanafy said in a press statement on Monday that total production of steel reached 152,692 tons, adding that ministry inspectors make sure factories and dealers adhere to the announced prices.
Edited translation from Al-Masry Al-Youm
