Ezz Steel, one of Egypt’s largest steel producers, has offered an EGP 4,000 (USD 84) per-ton discount on November rebar deliveries, its first price adjustment after nearly a year of holding official prices steady.
The company is now offering rebar at EGP 34,200 (USD 721) per ton EXW, inclusive of 14pct VAT.
According to market sources, the discount is valid until November 30, with no clarity on whether it will be extended. The move comes as sluggish demand has led to rising rebar inventory levels across the domestic market.
Ezz Steel operates four fully integrated steelmaking plants in Egypt with a combined production capacity of 7 mln tons of flat and long steel products annually.
1 USD / 47.4 EGP
