Iron "Shedd 60" prices rise by 160 dinars per ton.

Al-Anbat - Saba’ AlSukkar

Translated by - Noor Alsaleh

 The prices of reinforcing steel "Shedd 60" has risen in the local market by 160 dinars per ton according to iron traders and various destinations, reaching 780 dinars per ton for the consumer compared to 620 dinars previously, while a ton is sold by 750 dinars in the factory .

The merchant, Akram Abu Fares, owner of a shop selling iron and cement, told Al-Anbat that the price of selling a ton of iron "Shedd 60" on the shop amounted to 790 dinars to the consumer with an increase of more than one hundred dinars per ton, while the merchant Khaled Al-Dumaisi, the owner of an iron and cement company, explained that the selling prices of iron Shedd 60 for the consumer of the shop land amounted to 780 dinars, compared to 620 dinars earlier.

He pointed out that the rise in prices leads to a state of delayed completion in the housing market especially for those with limited income until prices stabilize globally, expecting the housing companies to continue their work without interruption.

The representative of the construction sector in the Amman Chamber of Industry, Alaa Abu Sofa, said that the prices of iron sold in the local market amounted to 60 dinars, while in the factory amounted to 750 dinars, and the selling price to the consumer reached 780 dinars, stressing that the selling price in Jordan is lower than that of neighboring Arab countries, where a ton is sold in Egypt For 118 thousand pounds, Palestine for 970 dinars, and Saudi Arabia for 4100 riyals.

He added the rise of prices attributed to import a large part of the raw billet material from Russia and Ukraine. The shipping wages of the ships rose from 70 dollars per ton to 150 dollars per ton.

Abu Sofa indicated that between 150 and 200 thousand tons of billet are imported annually, while the production of local factories reaches 700 thousand tons annually.

The head of the Housing Investors Association, Kamal Al-Awamleh, said that the reasons for the rise in prices are unjustified because all factories have a sufficient stock of pallet material, and that the increase that will affect the prices of residential apartments will reach between 2500 and 3000 thousand dinars.

He explained that the Russian-Ukrainian crisis will not affect the previous rise in iron prices, and it is assumed that the rise in prices will be on new goods without exploitation.

Al-Awamleh demanded the government reduce the value of the general sales tax imposed on housing companies.