05
Apr
11:03
Egyptian domestic rebar falls on forex, iron ore
Egypt's benchmark mill, Ezz Steel, has cut its domestic ex-mill rebar prices by 12.5% to EGP 40,700/tonne ($754.8), from EGP 46,500/t, including 14% VAT, due to the Egyptian pound appreciation and lower iron ore prices.
In late February, the market maker reduced its domestic ex-mill rebar prices by 12% to EGP 46,500/t, from EGP 53,250/t, including 14% VAT, notes Kallanish.
Suez and El Marakby have followed suit, setting their new prices at EGP 40,500/t each. …
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Very good overview of the weekly steel market.
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