The global market uptrends in the finished steel and raw materials segment have resulted in mills’ rebar price increases in many countries, including Egypt. Local market leader Ezz Steel has increased its prices by $28/mt (EGP 500/mt) over the past month to $595/mt (EGP 10,600/mt) ex-works for January production, SteelOrbis has learned. Another large local producer Beshay Steel has set its offers at $587/mt (EGP 10,450/mt) ex-works.
As reported earlier, local demand was not great in Egypt in October as consumption figures fell by 32 percent month on month to 478,000 mt.
Prices in EGP include 14 percent VAT, while offers in US dollars do not.
$1 = EGP 15.62