Iron and Steel denies adjusting prices of its products

The Iron and Steel Company denied plans to make further adjustments to the prices of its products during this period.

The company said on Facebook on Wednesday that what is being circulated online in this regard is unfounded.

"The global steel market this year has undergone numerous dramatic price swings in terms of its primary inputs of raw materials, refractories, and operating materials," Iron and Steel explained.

It noted that it had recently revised the selling prices of its products in the local market and reduced them by 15-20%, making the majority of the company's product prices lower than their counterparts in international markets.