Ezz Steel increases consumer steel price to EGP9,150/tonne
Ezz Steel [ESRS.CA] has increased its consumer steel price by EGP1,500/tonne to reach EGP9,150/tonne, according to Al Mal. The news source mentioned that the hike was the result of the recent EGP devaluation. It is worth noting that management has not yet confirmed this increase. (Al Mal) Ezz Steel: EGP7.77 as of 08 November 2016, Rating: Buy, FV: EGP12.00 per share, MCap: USD236mn, ESRS EY / ESRS.CA
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