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Planning Minister: Egypt is not “yet” in talks with the IMF over a fresh loan
LNG carriers will pay the full rate to transit the Suez Canal starting today
The government is now aiming to buy more than 6 mn tons of domestic wheat this harvest season
Remittances from Egyptians abroad rose 6.4% in 2021 to a record USD 31.5 bn
The Fuel Pricing Committee started evaluating the rise of oil over gasoline prices
ABUK will establish a new fertilizer factory for USD1.2 billion on the land plot acquired from RAKT, EGPC’s stake might be in-kind and equal to the value of the land
EFID released FY21 net profit came in at EGP472 mn, +56.2% YoY; EFID plans indirect price rises throughout the year to face the rise in raw material prices; EFID is currently trading at FY21 P/E of 10.3x and EV/EBITDA of 7.2x
HELI is extending the deadline for bidders to submit offers to lease an 11k sqm plot (with BUA of 1k sqm) located within Merryland Park to 31 March
PHDC EGM approved issuing EGP3.3 billion Sukuk to finance Badya
Weekly Commodities Update
Commodity prices cooled off this week, mainly on positive comments from ceasefire talks between Russia and Ukraine.
Brent futures are trading at USD105.66/bbl and averaged USD94.31/bbl YTD
The Egypt Urea Index increased by 32% WoW and prices are currently at USD1,100/ton
Diesel-HSFO spreads were down 26% WoW and are at USD420/ton
Polyethylene (HDPE) prices were up 1% WoW to USD1,390/ton
Polypropylene prices climbed 1.6% to reach USD1,280/MT
Steel/Iron Ore spreads rose by 12% to USD608/ton
Aluminum prices retreated this week by 10% to stand at USD3,483/ton
Retail cement prices in Egypt, continued its uptrend to EGP1,450 -1,550 per ton
Steam Coal FOB lost some of last week’s gains to record USD369/ton, down 12% WoW
Wheat prices cooled down 19% WoW to reach USD1,090/bushel
Crude palm oil prices dropped to reach USD1,586/MT, -4.3% WoW
By Al Ahly PharosPlanning Minister: Egypt is not “yet” in talks with the IMF over a fresh loan
LNG carriers will pay the full rate to transit the Suez Canal starting today
The government is now aiming to buy more than 6 mn tons of domestic wheat this harvest season
Remittances from Egyptians abroad rose 6.4% in 2021 to a record USD 31.5 bn
The Fuel Pricing Committee started evaluating the rise of oil over gasoline prices
ABUK will establish a new fertilizer factory for USD1.2 billion on the land plot acquired from RAKT, EGPC’s stake might be in-kind and equal to the value of the land
EFID released FY21 net profit came in at EGP472 mn, +56.2% YoY; EFID plans indirect price rises throughout the year to face the rise in raw material prices; EFID is currently trading at FY21 P/E of 10.3x and EV/EBITDA of 7.2x
HELI is extending the deadline for bidders to submit offers to lease an 11k sqm plot (with BUA of 1k sqm) located within Merryland Park to 31 March
PHDC EGM approved issuing EGP3.3 billion Sukuk to finance Badya
Weekly Commodities Update
Commodity prices cooled off this week, mainly on positive comments from ceasefire talks between Russia and Ukraine.
Brent futures are trading at USD105.66/bbl and averaged USD94.31/bbl YTD
The Egypt Urea Index increased by 32% WoW and prices are currently at USD1,100/ton
Diesel-HSFO spreads were down 26% WoW and are at USD420/ton
Polyethylene (HDPE) prices were up 1% WoW to USD1,390/ton
Polypropylene prices climbed 1.6% to reach USD1,280/MT
Steel/Iron Ore spreads rose by 12% to USD608/ton
Aluminum prices retreated this week by 10% to stand at USD3,483/ton
Retail cement prices in Egypt, continued its uptrend to EGP1,450 -1,550 per ton
Steam Coal FOB lost some of last week’s gains to record USD369/ton, down 12% WoW
Wheat prices cooled down 19% WoW to reach USD1,090/bushel
Crude palm oil prices dropped to reach USD1,586/MT, -4.3% WoW

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