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Ahmed Zeiny, head of the building materials division of the Cairo Chamber of Commerce, said iron and cement prices could drop in the coming days, given the availability of large quantities in the markets and weak sales in the markets.
Al-Zaini said in a statement to "The Seventh Day" that iron prices fell by 2: 4% from year-to-date prices. The decline is due to the recession in the building materials market and lower sales, pointing out that offers from factories, traders and suppliers are being offered to boost sales.
El-Zeiny pointed out that cement prices fell by 10-15%, the factory price registering 650: 700 pounds, while its market price reaching a maximum of 750 pounds, credit for the lower cement prices due to the maximization of Egyptian production and the creation of new plants. It rebalanced the markets.
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