Different price trends in the market reveal the impact of supply-demand balance, raw material costs and fluctuations in exchange rates on the sector. According to the data, various rebar manufacturers have adjusted their prices in Egyptian Pounds (EGP) and US Dollars (USD) from January 31 to February 17, indicating a dynamic shift in the market landscape.
Leading producers like Ezz Steel, Suez Steel, Egyptian Steel, and Beshay maintained their prices in EGP but experienced a minor decrease of $4 per Metric Ton (MT) in USD terms. This reduction is reflected across other prominent companies such as El Marakby, Madina Steel, Arco Steel, and Al Ashri Steel, each showing a similar $4 decrease in their prices.
Conversely, several companies reported significant price hikes. Al Komy notably increased its price from 32,500 EGP/MT to 34,500 EGP/MT, corresponding to a $36 rise per MT. Mitad Helwan and Al Gyoshi Steel followed suit with a $36 increase per MT, indicating positive price movement in their offerings. Additionally, El Ola Steel and Antar Steel showed notable gains, each increasing by $30 per MT.
Meanwhile, Ma'adi Steel experienced a slight decline, reducing its price by $7 per MT. Other companies such as Misr Steel, Bianco, and Stars Steel observed moderate increases ranging from $16 to $26 per MT.
These fluctuations reveal a mixed but active market, with stakeholders closely monitoring these changes for strategic planning and investment decisions. The data underscores the importance of staying informed in a rapidly shifting economic landscape, as companies adapt to evolving market conditions and external factors impacting the steel industry.
USD1= EGP 50.70
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