Building Materials Division Reveals Price Expectations for the Upcoming Period in Egypt

Ahmed El-Zeiny, the head of the Building Materials Division at the Federation of Egyptian Chambers of Commerce, provided insights into the building materials market in Egypt, highlighting significant price fluctuations during December and January due to the rise in the US dollar exchange rate in the parallel market. Specifically, the price of iron surged at the beginning of January, jumping from 45,000 to 55,000 EGP per ton at the factory level, with consumer prices reaching up to 62,000 EGP.

Following the decrease in the dollar exchange rate in the parallel market and government intervention, building materials prices saw a reduction of 10,000 to 12,000 EGP. Currently, prices range from 48,000 to 49,920 EGP per ton at the factory level and from 50,000 to 52,000 or 53,000 EGP for consumers in Upper Egypt provinces. El-Zeiny confirmed the availability of building materials in sufficient quantities and noted that cement prices have remained stable.

He also mentioned a current market slowdown and predicted a decrease in building materials prices after the end of the holy month of Ramadan, offering a glimpse into the expected market dynamics in the near future.

Source: Pressbee