In the ever-fluctuating world of scrap metal, Egypt’s market is experiencing significant shifts. The scrap price in Egypt currently varies between EGP 14,000 and EGP 23,000 per tonne, depending on the scrap grade and factory pricing.
Factories are strategically lowering prices to attract buyers and maintain sales. Egyptian factories are predominantly sourcing scrap materials locally, reflecting a trend toward self-sufficiency. However, the market remains unstable due to various economic factors.
Despite the local focus on purchasing, the market remains volatile, marked by a recent decline from last week's domestic scrap prices, which stood at EGP 22000-25000 including %14 TAX.
However, amidst this uncertainty, an unexpected surge in demand for exports to Sudan has emerged, propelled by political turmoil within the region. Sudan, grappling with its own internal challenges, turns to neighboring countries like Egypt and Saudi Arabia for scrap supplies.
Egypt, with its advantageous border proximity to Sudan, becomes a prime source of scrap materials, with exporters eyeing lucrative opportunities. Additionally, the port of Jeddah in Saudi Arabia offers a safe and efficient sea route, albeit at a steep customs cost, exceeding the cargo's value by more than 100%.
Yet, exporters face daunting risks, particularly in Sudan, where security concerns loom large. The border trade poses threats of cargo theft, underscoring the need for caution and vigilance.
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