Prices of iron and steel to increase, Libyan Iron and Steel Company says

March 3, 2019

Prices of iron and steel will rise by 20%, the Libyan Iron and Steel Company has said.

The company's media office said the increase in prices is due to the new measures conducted by the Presidential Council (PC), in respect to the tax fees imposed on foreign exchange by 183%.

'The price hike was due to the new fees charged on the foreign exchange, which caused the rise in costs, making it difficult to continue selling products at our current prices,' the company stated.

It also stressed its keenness to suppress production costs and to keep up with the high-quality and adequately priced services to retain its leading position.