Increase in rebar prices, factories not selling ...Egypt

Ahmed al-Zainy, Chairman of the Building Materials Division, at the Federation of Egyptian Chambers of Commerce (FEDCOC), said that there is a 10 percent increase in rebar prices approximately, noting that the factories are setting the selling prices. During a telephone interview with Sada al-Balad channel, Zainy said that some factories refrained from selling rebar to their agents since before the currency devaluation, and it was expected that the increase would be gradual, but the surprise was this high increase. He pointed out that however the factories are supervised by the Federation of Egyptian Industries: they have no authority over them to set prices. Zainy stressed that there are ce

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