EGYPT STEEL BILLET, REBAR: Rebar prices fall, billet prices rise

Prices for steel rebar in Egypt fell in the week to Thursday October 10, while imported steel billet prices increased, sources have told Fastmarkets.

Egyptian rebar producers reduced their prices on September 30 and October 9. The reason for these falls was that Egypt’s prime minister last week announced a reduction in the cost for natural gas, to $5.50 per BTU from $7.00 per BTU. This will substantially reduce the costs of steelmaking. Ezz Steel, Egypt’s biggest producer, was now offering rebar at E£10,900 ($668) per tonne ex-works, down from the E£11,290 per tonne ex-works announced on September 30. All rebar prices in Egypt include 14% VAT. El Marakby Steel was...

Published

Serife Durmus

October 10, 2019

15:10 GMT

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