Ezz steel, the largest steel producer in Egypt announced to raise the rebar prices by EGP190/ton for January order because of the depreciated Egyptian pound against the US dollar and 6.8% of duty on imported rebar.
It's learned that the Egyptian pound valued at 6.45 per dollar, falling from 6.1 in a month ago.
Meanwhile, Beshay Steel, the main competitor of Ezz Steel is providing rebar prices at EGP4,500/ton.