US economy slows to 1.6% in Q1 of '24 – BEA    EMX appoints Al-Jarawi as deputy chairman    Mexico's inflation exceeds expectations in 1st half of April    GAFI empowers entrepreneurs, startups in collaboration with African Development Bank    Egyptian exporters advocate for two-year tax exemption    Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities    Italy hits Amazon with a €10m fine over anti-competitive practices    Environment Ministry, Haretna Foundation sign protocol for sustainable development    After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida    World Bank pauses $150m funding for Tanzanian tourism project    China's '40 coal cutback falls short, threatens climate    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's Ezz Steel ups price of rebar on materials hike
Leading market producer says 4 per cent rise will push consumer price to around LE4,800 per tonne
Bassem Abo Alabass Published in Ahram Online on 01 - 06 - 2011

Ezz Steel said it raised its steel rebar price by 4.3 per cent to $788.1 per tonne (LE4,650) in June on the back of global rises and the hike in imported input prices of aluminium billet.
The leading market producer said that price would range between LE4,800 and LE4,850 for consumers.
The billet world price attained $665 per ton in May against $625 in April, a rise of 6.01 per cent. Imported scrap also soared 1.6 per cent to $432 per ton in May, according to a monthly report from the Metallurgical Industries Chamber.
Ahmed Adel Sattar, a steel trader, told Ahram Online that the current price of Ezz steel produce for consumers exceeds $847.4 per tonne (LE5,000) after a surge in demand over the last 10 days.
Ezz Dekheila Steel said its unaudited 2010 net profit was unchanged from the previous year at LE724 million ($122 million).
Ezz Steel, Egypt's largest steel producer holds a 55 per cent stake in Ezz Dekheila.
Founder and magnate Ahmed Ezz is facing charges of illegal profiteering and the misuse of public funds, along with dozens of businessmen and officials considered to be close to the ousted regime. He is said to represent the marriage of wealth, party politics and undue power that was uncharacterstic among elite sections of society during Mubarak's reign.
Ezz, who was also secretary for organisational affairs in the now dismantled National Democratic Party (NDP), was excluded from his position as chairman of Ezz Dekheila steel company on 16 May 2011.
With a total actual capacity of 5.8 million tonnes of finished steel per annum in 2009, Al Ezz Steel is the Egyptian market leader in terms of sales.
Samir Al-Sayyad, Minister of Industry and Foreign Trade, approved on 31 May an advisory committee's recommendation to shelf an investigation into damaging imports of rebar from Turkey due to the absence of sufficient evidence that they harmed the domestic industry. The complaint was filed to the Anti-Dumping Authority by Egypt's Metallurgical Industries Chamber on behalf of six Egyptian rebar producers in August 2010.
The volume of Turkish rebars and steel imported to Egypt between January and July 2010 declined to LE9.1bn, compared with LE11.3bn during the same period in 2009, according to the latest data from the Turkish Authority of Statistics.

Clic here to read the story from its source.