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Steel prices increase six times in only one month: Egyptian Federation for Construction - Daily News Egypt

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Steel prices increase six times in only one month: Egyptian Federation for Construction

During the period from 10 July to 10 August, prices of steel increased six times, according to a member of the Egyptian Federation for Construction and Building Contractors, Sahl Al Damrawi. Al Damrawi noted, “there is no justification for this increase except the absence of the role of the state in controlling prices. The producers …


During the period from 10 July to 10 August, prices of steel increased six times, according to a member of the Egyptian Federation for Construction and Building Contractors, Sahl Al Damrawi.
Al Damrawi noted, “there is no justification for this increase except the absence of the role of the state in controlling prices. The producers and traders, no more than 15 individuals, control the fate of millions of citizens as they wish.”

He added that construction companies suffer greatly from the increase of most prices of building materials, and the random increase over the past period led to doubling the prices contracted with the state agencies and other private companies, which suffer heavy losses that most companies cannot afford.
He called on the government to quickly intervene and set a maximum limit for producers and traders to protect citizens from manipulating the prices and protect thousands of construction companies from bankruptcy.

Topics: Prices steel

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