Imad Rajabi – Palestine Economy Portal

Translated by Tamara Barakat

Marwan Juma, chair of the Palestine Contractors’ Union, said that iron prices are currently unstable, and they might increase by $30 to reach $120 per ton, following the increase in the price of the ton to $90 last month.

Juma told the Palestine Economy Portal that importers informed him that the increase in iron prices resulted from the increase in international demand for iron, especially since talks are being made on the possibility of the reconstruction of Syria.

He explained that Palestine imports most of its demand for iron from Turkey and Ukraine.

Last month, a ton of iron was sold for 1800 shekels. However, it is currently being sold for 2150 shekels, and there are concerns that iron prices might further increase to reach $120 (2255 shekels per ton).

As iron prices keep increasing, the burden borne by citizens who intend start construction projects becomes heavier. This also comes at a time when the price of a ton of cement increased by 20 shekels because the Nesher Israel Cement Enterprises Ltd. raised the price of cement sold to the Sanad Construction Industries, which is Nesher’s sole dealer in Palestine.

(Palestine Economy Portal)