Egyptian daily Al-Mal citing company officials reported that Egypt's Ezz Steel reduced its price for rebar steel in the local market by EGP 150 (USD27) per tonne.

The report said that the new price for July is EGP 2,900 compared to EGP 3,050 in June.

Al-Mal citing Mr Samir Noman head of Ezz Steel Trade sector reported that the cut in prices was a result of competition between Ezz Steel and other companies, especially after imported steel entered the Egyptian market,

(Sourced from Al-Mal)