Egyptian steel mills announce their rebar prices for September

Some mainstream steel mills in Egypt such as EZZ Steel and Beshay Steel have announced their domestic rebar offers for September. Accordingly, EZZ Steel has kept its rebar prices unchanged as compared to August at the price level of EGP 4,330/mt ($710/mt) ex-works, including eight percent VAT, while Beshay Steel has reduced its September rebar offers by EGP 25/mt ($4/mt) as compared to last month, setting its new price at EGP 4,275/mt ($701/mt) ex-works + eight percent VAT. In the meantime, market sources indicate that demand has remained on the weak side in the local Egyptian market, where a pessimistic atmosphere prevails.
 
$1 = EGP 6.10