Ezz Steel said it has increased steel prices by LE 50 per ton ($9 per ton) to reach LE 3,600 ($632 per ton), inclusive of the 8 percent sale tax.
In its daily market report, Beltone Financial said, “The minor increase in Ezz rebar prices comes on the back of stability witnessed in the global rebar prices over the last month.
Steel future prices on the London Metal Exchange have risen by 7.4 percent over the last week, signifying a short-term reverse in trend. “However, we remain wary of the short-term prospect for rebar prices as the global economic conditions remain subdued,” Beltone said.
