With the support of the import duty on
rebar and
wire rod and the strengthening of the US dollar against the Egyptian pound, Egyptian steelmakers
EZZ Steel and Beshay Steel have increased their ex-works
rebar prices by EGP 450/mt ($67/mt) as compared to last month. Accordingly,
EZZ Steel's
rebar prices are standing at EGP 4,851/mt ($725/mt), while Beshay Steel's
rebar quotations are at the level of EGP 4,950/mt ($740/mt), both effective from February.
$1 = EGP 6.69