SteelOrbis has learned from market sources that Egypt's largest rebar producer EZZ Steel has cut its domestic rebar prices for November by EGP 300/mt ($50/mt) to the level of EGP 4,500/mt ($753/mt) ex-works. The price in question is on actual weight basis and includes eight percent sales tax.
As SteelOrbis previously reported, EZZ Steel had maintained its rebar prices for October at September levels, i.e., at EGP 4,800/mt ($803/mt).
US$1 = EGP 5.978