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Rebar prices decline in Egypt driven by the drop in billet globally

Local factories for rebar production revealed the selling prices of their products in July, with another decrease of 500 pounds on average per tonne, due to the successive decline in billet prices on the global stock exchange, specifically from the Russian market. Note that iron prices recorded a decrease of more than 1,100 pounds per tonne in June compared to last May.

Ezz Steel Group announced the selling prices of its products at the beginning of July, with 17670 pounds/t, compared to 18170 pounds/t at the beginning of last June. The Suez Steel price recorded 17,570 pounds/t compared to 18070 pounds/t, and Beshai Group prices recorded 17,500 compared to 18075 pounds/t according to June prices. Egyptian Iron recorded 17,570 pounds/t compared to 18070 pounds/t announced in mid-May.

At the beginning of July, the steel price of Algioshy steel was recorded at 17,300 pounds/t, for factory delivery, compared to 17,900 pounds/t in June, and the same price at El Garhy Iron, compared to 17,850 pounds/t in June, and El-Marakby Iron recorded 17,550 pounds/t, compared to 18,050 in June. The iron price in Egypt Steel recorded 17,450 pounds/t, compared to 18000 announced in mid-May.

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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