27
Dec
13:18
Pound flotation benefits outweigh negatives for Ezz Steel
Ezz Steel is set to experience “…unprecedented” profitability levels due to the expected dollarisation of its operations following the Egyptian pound flotation last November, according to Egyptian investment bank Prime Holding.
Ezz Steel has linked its selling price to the USD/EGP exchange rate, meaning the flotation will affect positively 100% of the steelmaker’s revenues while negatively impacting 60-65% of its production costs. The po…
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Anonymous
Very good overview of the weekly steel market.
Anonymous