Learn about iron prices today 5-13-2023

Learn about iron prices today 5-13-2023
Learn about iron prices today 5-13-2023

Iron prices today, we are publishing iron prices in the markets today. Ezz Steel revealed that its prices will be fixed during the current month of May, amid anticipation for the announcement of the prices of iron companies in the current month.

Rebar industry

The reinforcing steel industry is one of the strategic industries in the building materials market, and the production capacity used in factories ranges between 20 and 30%. As a result of recession and inventory increase.

Egypt produces about 7.9 million tons of reinforcing steel and about 4.5 million tons of billets, while it imports 3.5 million tons of billets, according to data from the Chamber of Metallurgical Industries.

A number of major companies operate in the Egyptian market, including Ezz Steel, Egyptian Steel, Suez Steel, El Marakby, and others.

Iron and steel industry in Egypt

The iron and steel industry supports the local economic capabilities because of its direct impact on industrial development, as it is one of the most important industrial castles that supported the real estate sector and the engineering and metallurgical industries. International experiences showed that 51% of the iron and steel product at the global level is directed to buildings, metal installations and electricity towers. And electric power stations, and 5% is directed to railways, ships and containers manufactured for transporting goods, and 3% is directed to domestic uses of refrigerators and washing machines, and 12% of global production of iron and steel is directed to the automobile industry.

The importance of the iron and steel industry is due to its role in the growth of other industrial sectors that feed and consume its products, in addition to its ability to provide job opportunities, as each job opportunity in the iron and steel industry provides about 7 job opportunities in other industries, according to economic studies.

More than 6 million workers worldwide work directly and 42 million workers indirectly in this industry, and about 300 thousand workers work directly in the Arab countries and more than 2 million workers indirectly.

Iron prices

Iron prices today vary from one region to another, according to the cost of transportation and the profit margin of the trader and distributor, and according to the manufacturers’ companies and the announced prices for factory land delivery, and they rise for merchants by 200-300 pounds.

And the average price of iron was recorded:

* Ezz Steel 32135 pounds

* Iron with tea 29000 pounds.

* Ferryboat iron 28,500 pounds.

* Garhi iron 24500 pounds.

* Suez Steel 32050 pounds.

* Egyptian Steel 32050 pounds.

* Decimal iron 23350 pounds.

* Al-Juyoushi Iron 23,350 pounds.

The building materials market is also witnessing a noticeable fluctuation in the volume of demand in the market, amidst the calmness of the building and construction movement.

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