Cairo - Mubasher: The maximum prices of steel witnessed a reduction by nearly EGP 600 per ton in January, said Minister of Supply Khaled Hanafy.
The weekly steel supply increased to 441,460 tons in January, while the production declined to 154,750 tons.
The local sales slowdown reaching 100,860 tons in January compared with 126,400 tons in December 2015.
Delta Marine & Industrial Investments cut the steel prices by nearly EGP 600 per ton to EGP 4,075/ton, while Beshay Steel and Solb Misr slashed their prices by EGP 300/ton to EGP 4,600/ton and EGP 4,550/ton respectively.
Meanwhile, Ezz Group reduced its prices by EGP 280 per ton.
Egyptian Iron and Steel was the sole company that kept its prices unchanged in January at EGP 4,931/ton.
