An official in the Libyan Iron and Steel Company explains the reasons for the increase in their products and says: “The electricity crisis affects the production line.”
An official in the media department of the Libyan Iron and Steel Company, Abdulbasit Ammar, said in a statement to our source regarding their participation in Libya Build International Expo of 2022: “Our participation in such commercial forums, including Libya Build Expo, adds an official character to such forums more than it is an advertisement for the company.”
He added: “Exactly two weeks ago, the company announced a decrease in selling prices for iron and steel produced by the factory. Also, the price of iron and steel is linked to iron prices in the world, and a gradual decline in the global market has led to a decrease in iron prices by 10%.”
During his speech, he said that the reasons for the increase in iron prices are the rise and fall in the prices of raw materials imported from abroad and from Brazil in particular through the company’s port.
Ammar also confirmed that there are no obstacles to production lines except electricity, especially in the summer, despite the company owning its own power plant connected to the public network, and because of what is happening in the network, “we are forced to turn off some of the furnaces or work with less than the usual energy.”