Egyptian rebar producers revise their prices downward

Market sources indicate that Egyptian producers have revised their June rolling rebar prices downward as compared to price levels for May rolling. Accordingly, EZZ Steel has cut its prices by EGP 100/mt ($14/mt) to EGP 4,950/mt ($708/mt), while Beshay Steel and Suez Steel have decreased their rebar quotations by EGP 170/mt ($24/mt) to the levels of EGP 4,950/mt ($708/mt) and EGP 4,930/mt ($705/mt) respectively - all on ex-works basis and including VAT.
 
$1 = EGP 6.99