Egyptian steel market unstable due to price hike

摘要

Over the past few months. Egyptian steel market has been unstable due to supply shortage and frequent hike in prices. In fact, the price of steel jumped from EGP 3,800 per tonne in November 2007 to EGP 8,000 in June 2008. In an attempt to control the volatility of the steel market and in response to consumer complaints, the ministry of trade & industry has issued decree 419 for 2008 regulating steel trading. The decree states that each steel factory must determine a maximum sale price, according to production cost, to indicate the price for wholesalers, traders and consumers. All steel dealers will be obligated by this price and violators will be penalized.