Data covering the period from December 31, 2024, to January 6, 2025, reveals that most producers have kept their prices steady in Egyptian Pounds (EGP), although small fluctuations in prices were observed in US Dollar (USD) terms due to exchange rate changes.
Leading Egyptian producer Ezz Steel has kept its price fixed at 38,200 EGP/MT, while its price in USD increased slightly from 750 USD/MT to 752 USD/MT. Similarly, Suez Steel’s price remained at 48,300 EGP/MT, but its price in USD rose from 949 USD/MT to 951 USD/MT. This price stability demonstrates the resilience of the market and the consistent pricing efforts by producers.
Exchange rate data shows that the Egyptian Pound, which was at 50.90 EGP/USD on December 31, 2024, lost a slight value to 50.80 EGP/USD by January 6, 2025. This minor change had minimal impact on rebar prices in USD terms.
As for Hot Rolled Coil (HRC) and local cast iron prices, HRC is priced at 330,000 EGP/MT (650 USD/MT), while local cast iron is priced at 295,000 EGP/MT (581 USD/MT), with both prices inclusive of VAT. These prices provide additional insights into the general steel market in Egypt.
Overall, the data indicates that Egypt’s rebar market remains stable despite exchange rate fluctuations, with producers maintaining consistent prices to help ensure predictable material costs for the construction sector.
1 USD = 50.80 EGP
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