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Fluctuating rebar prices in Egypt highlight market dynamics

Recent trends in rebar prices in Egypt illustrate the volatility of the steel market, influenced by domestic demand and global market conditions.

Fluctuating rebar prices in Egypt highlight market dynamics

Recent data indicates notable fluctuations in rebar prices across Egypt, reflecting the dynamic nature of the steel market. Prices have varied significantly, with major steel companies such as Ezz Steel and Bishay Steel leading the market at EGP 40,700 per ton, while other companies like El Marakby Steel and Egyptian Steel have also seen price changes.  Rebar prices in Egypt have ranged between EGP 37,700 and EGP 40,700 (USD 770-831) per ton.

Ezz Steel and Bishay Steel have maintained top positions with prices peaking at EGP 40,700 per ton, indicating strong domestic demand. Prices have seen increases and decreases, with some companies experiencing price hikes of up to EGP 6,980 compared to previous weeks. These fluctuations highlight the competitive nature of Egypt's steel market, influenced by both domestic construction demands and global steel market trends. The varying prices underscore the resilience and adaptability of Egypt's steel sector amid external economic pressures.

Prices include a 14% Value Added Tax (VAT), indicating these are final consumer prices. This tax inclusion is particularly crucial for construction companies and developers who need to budget accurately for large projects.

 *USD1= 48.45*

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