Although demand in the local Egyptian rebar market has failed to revive, with EZZ Steel not announcing a new price level at the beginning of April, most other local producers are trying to keep their domestic rebar quotations stable.
While the domestic rebar prices of EZZ Steel and Beshay Steel are still at EGP 11,600/mt ($669/mt) ex-works, it is observed that Egyptian Steel and El-Marakby have slightly increased their domestic rebar prices to EGP 11,650/mt ($672/mt) ex-works and EGP 11,450/mt ($661/mt) ex-works, respectively. SteelOrbis has been informed that Egyptian producers’ domestic rebar prices are generally in the range of EGP 11,200-11,650/mt ($646-672/mt) ex-works, while traders’ offers in the local Egyptian rebar market currently start from EGP 10,800/mt ($623/mt) ex-warehouse.
$1 = EGP 17.33