Ahmed al-Zeiny, head of the general division of building materials in the General Federation of Chambers of Commerce, expected that the price of steel will decline in October to about 1,000 pounds, and then decline to 9 thousand again for some factories.

Al-Zeiny explained that the reason for this decline is Termination of dumping duties on iron imported from Turkey, China and Ukraine, which is scheduled to be canceled by the first of October.

Al Ziney said that the value of dumping duties is estimated at 1,000 pounds per ton, which made local factories to raise prices in the same value over the past few months. Consequently, the cancellation of the duties will lead to a reduction of the factory price by one thousand pounds.