20
Jun
10:59
Ezz to receive 60% of gas requirement: bank
Egyptian investment bank Prime Holding forecasts Ezz Steel will receive 55-60% of natural gas required to operate its direct reduced iron plants in 2016. This is up from its 50% projection in January. The proposed gas price reduction for Egyptian steelmakers is seen being implemented in September.
This reduction, to $4.5/million BTU from $7/m BTU, will improve Ezz Steel’s margins as it will enable Ezz Flat Steel (EFS) and Ezz Steel Rebars (ESR) to utilise …
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Anonymous
Very good overview of the weekly steel market.
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