02 December 2009
Al Ezz Steel Rebars raised its rebar ex-factory prices for December 2009 by LE 150 per ton to LE 2,950 per ton, up from LE 2,800 per ton in November 2009.
Al Ezz Steel Rebars raised its rebar ex-factory prices for December 2009 by LE 150 per ton to LE 2,950 per ton, up from LE 2,800 per ton in November 2009.
Beshay Steel raised its prices by LE 120 per ton to LE 2,870 per ton compared to LE 2,750 per ton the month before, Al-Ahram reported.
In its daily notes, CI Capital said, "The recent increase in steel prices by an average of LE 135 per ton for December 2009 is attributed to a recent increase in prices of billets and scrap.
"Steel prices will be moving sideways during 2009 and early 2010 to catch up and take a positive direction during in the second half of 2010."
The firm maintained a strong 'buy' recommendation for both Ezz Steel and Ezz Al Dekheila Steel-Alexandria.
© Daily News Egypt 2009
