03
Jan
09:39
Egyptian mills absorb costs, slightly increase domestic rebar
Egyptian mills have absorbed raw material price hikes and local currency depreciation in the free market, thus increasing their domestic market rebar prices for January deliveries by some 9-10% on December quotes, Kallanish notes.
"The increase in iron ore and scrap, together with the depreciation of local currency in the free market, resulted in a total cost increase of 40%. We cannot absorb any more and have only passed on a 9-10% increase in sales prices,&…
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Anonymous
Very good overview of the weekly steel market.
Anonymous