This week, Egypt's rebar market has demonstrated remarkable stability, with prices holding steady within a relatively narrow range. Despite minor variations, the overall consistency in prices suggests a cohesive response from manufacturers amidst diverse economic factors.
The price range for rebar this week spanned from EGP 49,920 to EGP 54,000, with notable contributions from key players in the industry:
Ezz Steel: EGP 53,520
Suez Steel: EGP 53,520
Bishay Steel: EGP 54,000
El Marakby Steel: EGP 53,520
Egyptian Steel: EGP 49,920
Ashry Steel: EGP 53,000
Garhy Steel: EGP 53,300
Misr Steel: EGP 53,000
El Komy Steel: EGP 52,000
El Ola Steel: EGP 52,000
Al Gioshy Steel: EGP 52,000
While these figures illustrate a stable market environment, notable adjustments have been introduced by Ezz Steel Company. Effective this week, Ezz Steel has implemented significant changes in its pricing strategy:
Rebar prices surged to EGP 53,520 per ton, reflecting an increase of EGP 3,600 compared to previous figures.
Conversely, flat steel prices witnessed a contrasting trend, with rates decreasing to EGP 57,340 per ton. This marks a notable decline of EGP 3,600 from the rates observed at the beginning of February.
It is important to note that these prices are inclusive of value-added tax and are applicable over EXW terms. Such adjustments by Ezz Steel underscore the nature of the steel market and highlight the company's strategic response to evolving economic conditions.
In conclusion, amidst the broader stability observed in Egypt's rebar market, Ezz Steel's pricing adjustments serve as a notable development, reflecting the ongoing adaptability required within the steel industry.
*1 USD = 63.00 EGP*
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