Pre-Trading Thoughts

Urea Egypt price index declined to USD720/ton compared to 1Q22 average of USD843/ton. ORAS announces that Suez Industrial Development Company (SIDC), a majority-owned subsidiary, signed an agreement with Al Ahly Capital Holding to jointly develop a 2.2 million square meter industrial park in Abu Rawash. SIDC will be the lead developer of the industrial park. SIDC will also own 25% of the project company. ESRS has reduced the price of rebars by EGP 1,000/ton (-5% MTD) to EGP 18,170/ton (...