08
Oct
14:24
Ezz Steel expects to benefit from cheaper gas
Ezz Steel confirms last week’s reduction of natural gas price for domestic industrial consumers in Egypt will have a positive effect on its margins.
The government reduced the gas price to $5.5 from $7 per million British thermal unit (MMBtu) and said it will be reviewed every six months (see Kallanish passim). Ezz Steel’s gas consumption amounts to 11 MMBtu per tonne of finished steel product.
In 2014 Egypt increased the natural gas price for dom…
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Very good overview of the weekly steel market.
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