Egyptian steel prices reached 600$ level

5. February. 2010
ArabSteel

Egyptian rebar producers followed the lead of Ezzsteel by announcing a raise to sales quotes for February by EGP 160-230 ($30-43). This anticipated upswing comes as a result of the rise in prices of scrap and billet on the world market.

Beshay Steel have announced a EGP 200 increase in the sale quote, thus its ex-works price per ton of rebar reached EGP 3250 ($600). Misr National Steel also raised the ex-works price to EGP 3200 ($492) after adding EGP 170 per ton.

Likewise, the rest of steelmakers in Egypt raised their quotes by around EGP 160 per ton.

The consumer price range between EGP 3400 and 3500 ($628-647) per ton.