Egypt’s largest rebar producer and the market leader Ezz Steel has increased its domestic price, following the uptrends in the global raw material and semi-finished markets. The supplier’s offer has added $32/mt (EGP 570/mt) compared to the previously valid workable price. Currently, Ezz Steel’s rebar is available for local buyers at $535/mt (EGP 9,750/mt) ex-works. Domestic market players say that for now the producer is not providing any discounts, but whether the offer will be accepted will be clearer after the holiday, SteelOrbis understands.
Prices in EGP include 14 percent VAT, while offers in US dollars do not.
$1 = EGP 16