Ezz Steel (ESRS) has decided to reduce steel prices by $44 (EGP 830) per ton, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

Accordingly, the price of steel was decreased to $1,037 (EGP 19,170) per ton, including the value-added tax (VAT), from EGP 20,000.

Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.

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