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September 08, 2008


Steel rebars price reach new highs in Egypt this week

Daily Star reported that rebar prices in Egyptian market reached new highs on May 6th with percentages increase between 8.7% and 12.20%.

A source said that rebars in the Egyptian market have gone from EGP 6000 per tonne to EGP 6600 per tonne with a raise of 10%. The source also added that these prices will push the market to a state of standstill, expecting no more raises in the upcoming period.

On the other hand, steel makers declared that the new prices for May with an increase of EGP 400 per tonne as compared to last month which brings the price for one tonne from EGP 5850 per tonne to EGP 6250 per tonne.

Sources have revealed that the new raise will take the selling price for the consumer to between EGP 6500 per tonne and EGP 7000 per tonne for the first time in history.