Egyptian mills Suez Steel and El Marakby Steel reduce rebar prices

SteelOrbis has heard from market sources that Egypt-based steel producer Suez Steel has decreased its August production rebar prices by EGP 30/mt ($5/mt) as compared to last month to the level of EGP 4,250/mt ($700/mt) ex-works, including eight percent VAT.
 
Meanwhile, another Egyptian producer El Marakby Steel has also reduced its rebar prices by EGP 30/mt ($5/mt) as compared to July to EGP 4,230/mt ($696/mt) ex-works, including eight percent VAT.
 
$1 = EGP 6.074