Trade Minister assures stability in steel prices amid stronger Cedi

The Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has announced that steel prices will remain unchanged on the market, citing the steady appreciation of the Ghanaian cedi and ongoing government efforts to stabilise the economy.According to the Minister, Ghana’s macroeconomic indicators are showing encouraging signs of recovery, and these gains must be reflected in the pricing of key commodities across the economy.

Madam Ofosu-Adjare made the announcement during a press conference with steel manufacturers in Accra on January 23, 2026, where she commended industry players for their contribution to national development and economic growth.

She acknowledged that the manufacturers had raised a number of operational challenges and appealed for government support to address them.

“You have agreed to keep prices stable and, importantly, to ensure that steel products remain readily available on the market. With immediate effect, steel prices will remain unchanged,” she stated.

The Minister assured the manufacturers that government had taken note of their concerns and would work to resolve them through appropriate interventions.

She also expressed appreciation for the industry’s decision to absorb cost pressures in the national interest, noting that foreign exchange movements are only one factor in pricing decisions.

“I sincerely appreciate your sacrifice for the country. While the dollar matters, it is not the sole determinant of pricing. The macroeconomic environment has stabilised, the President has performed well, and your support is critical to sustaining this progress,” she said.