Although there has been no official announcement of domestic longs prices in Egypt, the product is being traded at a discount.
According to sources, domestic producer Ezz Steel, though keeping its official rebar price at $587/mt (EGP 10,570/mt) ex-works, is selling the product at a discount, specifically for large orders. As a result, the actual sales price from the producer is $567/mt (EGP 10,200/mt) ex-works, SteelOrbis has learned. “This price is valid specifically for large projects and large inquiries,” a local mill’s representative said. Today, January 16, some other suppliers to the domestic market have dropped their sales prices. In particular, El Marakby is offering rebar at $536/mt (EGP 9,650/mt) ex-works today, down $7/mt (EGP 125/mt), SteelOrbis has learned. Local producer Garhy Steel is offering rebar at the same level.
Wire rod from Ezz Steel is being sold locally at $561/mt (EGP 10,100/mt) ex-works, $11/mt (EGP 200/mt) lower than the official offer price. As regards exports, Ezz Steel is still offering at $520/mt FOB or $540/mt CFR to Saudi Arabia. Some deals have been closed at the mentioned level for end-of-February shipments.
Prices in pounds include 14 percent VAT, while prices on US dollar basis do not.
$1 = EGP 15.79.