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The Engineering Chamber of the Federation of Industries calls for a reduction in the price of aluminum to support the industry

Mohamed El-Mohandes, Chairman of the Chamber of Engineering Industries, confirmed that the factories suffer from a significant increase in the price of aluminum from the Egyptian Aluminum Company, indicating that the engineering factories involved in the Decent Life initiative need to intervene to reduce the price of aluminum, especially the factories that work in the infrastructure of electric cables.

The Ministry of Industry had decided to impose final preventive measures on imports of aluminum products from items of molds, cylinders and wire for a period of 3 years, as a result of the serious damage from the increase in imports to the local industry, and the implementation of the decision began in mid-April.

The Ministry of Trade and Industry said that it had previously approved the recommendation of the advisory committee in accordance with the results and recommendations reached by the commercial treatments sector, and field verification visits were conducted to the local industry to verify the data provided through the financial books and records, as it was found that there is a significant increase in imports from The category of aluminum products, which include molds, cylinders and wire, have inflicted severe damage on the local industry, which requires with it the imposition of final preventive measures on those imports, as the sector prepared a final report on its findings for presentation to the advisory committee.