In a significant market development, Egyptian steel industry Ezz Steel, has officially declared a revision in the prices of flat steel, marking the end of a nine-month period of unchanged pricing. The decision comes as a response to various economic factors and market dynamics impacting the steel industry.
As of the latest announcement, the new prices for flat steel have seen an increase from EGP 34,485 to EGP 37,000 ($1116,05- $ 1197,45) per tonne, factory delivery, inclusive of value-added tax. This adjustment is expected to have wide-ranging implications across various sectors that rely on flat steel for manufacturing and construction.
Ezz Steel attributed the price adjustment to several factors, including rising production costs, fluctuations in raw material prices, and the overall global economic climate.
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