Consumer steel prices have increased to EGP9,250/tonne among some of the market players, according to Al Borsa. Solb Misr has increased its consumer steel prices to EGP9,250/tonne, as it attributed the hike to: i) EGP devaluation that took place on 03 November 2016; and ii) an increase in international billet prices by USD20/tonne. It is worth noting that Ezz Steel [ESRS.CA] has not increased its prices. (Al Borsa) Ezz Steel: EGP7.22 as of 03 November 2016, Rating: Buy, FV: EGP12.00 per share, MCap: USD274mn, ESRS EY / ESRS.CA
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