A number of real estate developers confirmed the rising of steel prices amounted to 10% during the past period, in the light of the dollar shortage in the market crisis, which resulted in raising the price of iron ton to 5400 pounds.

Developers attributed the increase in prices to the decrease in the production capacity of some steel mills, and others stopped production processes completely, because of not being able to import steel billet used in the iron industry.

In the same context, Ahmed Zeiny, head of the Division of building materials at Cairo Chamber of Commerce said that steel prices saw gains during the last period, as the average price per ton of iron 5,200 pounds, and was in some governorates of Egypt 5,500 pounds, which predicts construction disorder of markets in the coming period.

El Zeiny attributed increase to a decline in import billet, which included in the iron industry.  the percentage of importing decrease 70% after the central bank decisions determining the maximum for the import of 50 thousand dollars a month which is not enough for growing demand for steel in the Egyptian market.

He suggested that some news about entering false billet in the list of 50 products and another tariffs will be imposed on them ,which made traders to store iron, believing in expected price hikes in iron because of these tariffs.