The price of local aluminum excluding taxes ranges between EGP 52,000 and EGP 64,000, El Elwany added.
The company has maintained its supplying prices despite the increase in global prices by an average of $30 per ton, recording $2,680, instead of $2,650 in December 2021, he highlighted.
It is worth noting that Egypt Aluminum reported it achieved a net profit after tax of EGP 304.718 million for the first quarter (Q1) of fiscal year (FY) 2021/2022, against a net loss of EGP 150.97 million in Q1 FY 2020/2021.
Egyptalum is an Egypt-based company specialized in extruding aluminum profiles for architectural and industrial applications. The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.
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