Pre-Trading Thoughts

Ongoing geopolitical tension in the region has had a dire impact on Suez Canal revenues, which have seen a 50-60% drop — equivalent to USD6 billion — over the past 7-8 months, President El Sisi said.The government is currently in talks with foreign partners over a new set of incentives for the oil and gas industry that aim to boost oil and gas production and reduce the growing gap between energy supply and demand.The Madbouly government will soon launch an international tender for the EUR350 million expansion of the Gabal El Asfar water treatment plant.Egypt's merchandise exports recorded USD27.21 billion during 8M24, compared to USD24.67 billion during the same period last year.SWDY- Movyon Italy consortium agreed with the Transport Ministry to finalize executing the intelligent transport system over seven main roads, with investments that could reach EGP8 billion, by mid 2026, according to local media. Four consortiums have submitted bids to renovate the USD285 million Robeiky-Tenth of Ramadan-Belbeis freight and passenger railway line, according to local media. The bidders include a consortium of CBS Group subsidiary GTS and ORAS (FV: EGP344.18, OW).ABUK will distribute cash dividends of EGP7.5/share over three installments.ABUK’s BoD has preliminarily agreed to study investment in the rehabilitation project of Delta Fertilizers factories.The Central Bank’s digital payment platform InstaPay will roll out new features allowing users to make purchases at points of sale and on e-commerce platforms before the end of the year.ValU signed an agreement with ShipBlu and PayTabs Egypt to enable customers to pay for their online purchases delivered by ShipBlu using their ValU account balance.According to local media, TMGH (FV: EGP75.00, OW) and Huawei signed an agreement to cooperate in building advanced cloud technology supported by artificial intelligence in the Noor project.Weekly Commodities Update |   | Last Price | WoW Change, % | Brent, USD/bbl | 72.0 | -3.4% | Diesel-HSFO Spread, USD/ton | 251 | -3.7% | Egypt Urea, USD/ton | 366 | 0.0% | Polyethylene, USD/ton | 990 | 0.0% | Polypropylene, USD/ton | 950 | 0.0% | Iron Ore 65%, USD/ton | 117 | 2.9% | Steel/Iron Ore Spreads, USD/ton | 410 | -1.0% | LME Copper Cash Price, USD/ton | 9,847 | 5.4% | LME Aluminum Cash Price, USD/ton | 2,630 | 6.8% | Egyptia Retail Cement, EGP/ton | 2,756 | -0.1% | Steam Coal FOB Newcastle Australia, USD/ton | 140 | 0.2% | SMP, USD/MT | 2,809 | 0.0% | Last price may vary week over week in some indices due to time difference