Egyptian rebar mills raise their prices further

With the support of the import duty on rebar and wire rod and the strengthening of the US dollar against the Egyptian pound, Egyptian steelmakers EZZ Steel and Beshay Steel have increased their ex-works rebar prices by EGP 450/mt ($67/mt) as compared to last month. Accordingly, EZZ Steel's rebar prices are standing at EGP 4,851/mt ($725/mt), while Beshay Steel's rebar quotations are at the level of EGP 4,950/mt ($740/mt), both effective from February.
 
$1 = EGP 6.69