Iron prices in Egypt recorded stability today, Tuesday, in conjunction with Ezz Steel, the largest iron producer in the market, announcing price stabilization to stabilize the dollar exchange rate, which led the rest of the market, including iron-producing companies, to fix prices.
The iron prices today in the market are as follows:
Iron prices today, Tuesday, in the markets:
The price of a ton of Ezz iron today:
The price of Ezz Steel stabilized, recording 32135 pounds per ton.
The price of a ton of Suez steel
The price of a ton of Suez steel was 32,050 pounds.
The price of a decimal ton of iron today:
The price of a decimal ton of iron stabilized, recording 38,000 pounds.
Today’s price of a ton of iron:
The price of a ton of iron was recorded at 38,500 pounds.
The price of a ton of Egyptian iron:
And the price of a ton of Egyptian steel stabilized, recording 32050 pounds.
The price of a ton of ferrous iron:
The price of a ton of ferry iron settled at 38,500 pounds.
The price of a ton of iron:
The price of Garhi iron was 27,000 pounds per ton.
High profits of Ezz Steel
Ezz Steel announced that it recorded a jump in its independent profits during 2022, with a growth rate of 266% on an annual basis, supported by the increase in sales.
The profits of Ezz Steel in the independent lists at the end of 2022 amounted to about 1.056 billion pounds, compared to 288.15 million pounds in 2021.
Earnings per share rose to 1.95 pounds, compared to 0.53 pounds last year.
The businessman, Ahad Ezz, owns 65% of the total shares of Ezz Steel Company, while Al-Ezz Factories owns 1.7%, and the remaining 32% is freely traded.
Ezz Steel recorded a strong jump in profits after sales rose to 16.66 billion pounds, compared to 13.1 billion pounds last year.
Ezz Steel raised the price of a ton of iron several times over the course of 2022, as it rose from levels of 15,000 pounds to 23,450 pounds per ton.
Ezz Steel continued to raise its prices, with the beginning of 2023, raising its prices under the influence of the depreciation of the pound against the dollar, to 34,485 pounds per ton.
In terms of the company’s consolidated financial statements, it increased by 23% on an annual basis during 2022, to reach 6.6 billion pounds, compared to 5.3 billion pounds in 2021.