Egyptian rebar mills keep prices unchanged for November

Egypt's major rebar producers EZZ Steel and Beshay Steel have announced their domestic prices for November.
 
After rebar mills in the UAE cut their prices for November, Egyptian mills were also expected to reduce their prices. However, in contrast to expectations, both EZZ Steel and Beshay Steel have kept their rebar prices unchanged as compared to last month.
 
Accordingly, Beshay Steel's rebar prices are still standing at EGP 4,025/mt ($658/mt) ex-works, while EZZ Steel's rebar prices are at EGP 4,080/mt ($667/mt) ex-works, both including eight percent VAT and for November deliveries.
 
Although another Egyptian mill Suez Steel has not announced its prices so far, the producer is expected to follow the example of fellow domestic steelmakers and keep its rebar prices unchanged.
 
$1 = EGP 6.12