Stable rebar prices maintain Egypt's construction momentum

This week, the Egyptian construction industry breathes a sigh of relief as rebar prices hold steady within a narrow range, bolstering ongoing projects across the nation. Amidst global economic uncertainties, the local market witnessed remarkable stability, with prices fluctuating between EGP 42,900 to EGP 49,920, inclusive of the 14% Value-Added Tax (VAT).

Leading the pack, Ezz Steel maintained its position at EGP 49,920 alongside Suez Steel and El Marakby Steel, consolidating their market presence. Meanwhile, Bishay Steel emerged as a cost-effective option at EGP 42,900, providing a competitive edge in the sector. Egyptian Steel, Ashry Steel, Garhy Steel, Misr Steel, El Komy Steel, El Ola Steel, and Al Gioshy Steel followed suit, contributing to the industry's resilience with prices ranging from EGP 49,000 to EGP 49,750, VAT inclusive.

$1 = EGP 66.63