Ezz Steel Company S.A.E., Egypt’s largest steel producer, has introduced a significant price reduction on rebar, cutting EGP 4,000 per ton and lowering the official ex-factory price to EGP 34,200. The incentive will remain in effect until 30 November, with industry sources noting that the company may or may not extend the offer depending on market conditions. Dealers who purchased stock earlier in November are being reimbursed for the price difference, according to market participants briefed on the move.
The adjustment comes as the domestic steel industry contends with large accumulated inventories and a broader international slowdown in steel demand, which has softened order flows across multiple markets. Estimates from market sources indicate that local producers are carrying 450,000 to 600,000 tons of stock, with some mills reportedly holding more than 100,000 tons each — levels that have prompted temporary price incentives to accelerate offtake and reduce storage pressure.
For buyers, the timing is unusually favourable. Imported rebar arriving into regional markets in recent weeks has been priced in a higher band, with CFR levels for non-Turkish cargoes typically ranging between USD 470–520 per ton, translating into a domestic landed cost that exceeds the current Ezz Steel offer when adjusted for duties, logistics and currency costs. The new local price therefore creates a clear value window for contractors, distributors and project developers seeking to secure supply ahead of expected fourth-quarter activity.
Whether other producers follow Ezz Steel’s lead — or whether the discount extends into December — will depend largely on the pace at which inventories normalise and international demand recovers.
