By: Heba El-Kordy
Cairo – Mubasher: The libralisation of customs dollar in Egypt will not impact the prices of iron, head of the building materials division at the Cairo Chamber of Commerce Ahmed El-Zeiny said.
The iron prices in the North African country are expected to decline over the coming period due to a decrease in the global prices of iron, El-Zeiny told Mubasher in a phone call.
Moreover, prices of iron will be also affected by the increase in the Egyptian pound’s exchange rate against the US dollar in the past period, he projected.
He indicated that the prices of iron will range between EGP 11,000 and EGP 11,500 per tonne.
It is worth noting that the Egyptian Ministry of Finance (MoF) had liberalised customs dollar as of Sunday, 1 September.
Translated by: Mai Ezz El-Din
