CAIRO: “The process of selling and purchasing stopped in steel markets in Egypt as a result of the great recession,” said a member of the building material division in Commercial Cairo Chamber, Shreif Gouda. Fouda said iron companies are working now with half of its capacity for local steel markets. “Steel companies produce steel 10 and 12 ml size and stopped producing reinforcement steel 6 and 16 ml size because their orders rate recently reduced,” Gouda said. He stressed it is economically dangerous to stop licenses of any of the four kinds of steel in factories because they include a large number of laborers. Fouda also warned about foreign interference into the Egyptian market.
