Rebar prices in Egypt remained steady throughout the week, maintaining a range between EGP 36,500 and EGP 40,700. This stability indicates a balanced market environment, with minimal fluctuations in pricing.
Ezz Steel Company has declared price stability for the third consecutive month, effective from June 1, 2024. Ezz Steel Company has kept the price of rebar steady at EGP 40,700 per ton. This essential construction material remains an integral part of infrastructure projects and building construction. For flat steel, the cost remains unchanged at EGP 41,700 per ton.
In addition to Ezz Steel Company's stable pricing, below is the weekly performance of various steel companies in the Egyptian market;
Ezz Steel maintains stability, while El Marakby Steel experiences a significant decrease of -2000. El Ola Steel shows a slight increase of 300, and Ashry Steel faces a moderate decline of -1000. Overall, these indicators provide valuable insights for investors and industry observers.
These prices are quoted on an EXW basis, meaning that buyers are responsible for transportation costs from the point of production. This transparent pricing approach ensures clarity for customers. Both rebar and flat steel prices include the value-added tax (14% VAT). Industry experts view this price stability as a positive sign, especially considering the volatility in global steel markets.
*1 USD = 47.72 EGP*
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