Egypt’s Ezz Steel has maintained rebar prices unchanged in the domestic market despite the recent increase in gas tariffs.
The company kept its rebar price at EGP 39,850 (USD 741) per ton EXW, inclusive of 14pct VAT.
Other steel producers are offering rebar in the range of EGP 38,500-39,350 (USD 716-732) per ton EXW.
The decision to hold prices in May follows a series of increases in April, driven by higher global raw material and production costs. Market participants noted that the recent energy tariff hike has not yet been fully reflected in current price levels.
Egypt has raised natural gas prices for energy-intensive industries, including steel, by an average of USD 2 per mmbtu, with the iron and steel sector now paying around USD 7.75 per mmbtu.
According to market sources, the current price stability reflects producers’ efforts to support demand and maintain market balance amid a slowdown in the construction sector and ongoing regional tensions in the Middle East.
1 USD / 53.7 EGP