Egypt’s EZZ Steel reduces its rebar prices for October

SteelOrbis has learned from market sources that Egypt's largest rebar producer EZZ Steel has reduced its domestic rebar price by EGP 250/mt ($41/mt) as compared to last month to the level of EGP 4,080/mt ($699/mt) ex-works for October shipments. The price in question is on actual weight basis and includes eight percent VAT.
 
Meanwhile, local market sources indicate that rebar demand in the Egyptian domestic market, where a negative atmosphere prevails, has remained low. In addition, other steel mills in the country are expected to announce their October prices soon, with decreases in prices anticipated.
 
US$1 = EGP 6.098