Ezz Steel decreases consumer steel prices to EGP7,670/tonne
Ezz Steel [ESRS.CA] has decreased consumer steel prices by EGP1,200/tonne to reach EGP7,670/tonne, according to Al Borsa. The company attributed the price correction to the recent decrease in EGP to USD exchange rate in the parallel market. (Al Borsa) Ezz Steel: EGP7.11 as of 02 November 2016, Rating: Buy, FV: EGP12.00 per share, MCap: USD435mn, ESRS EY / ESRS.CA
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