Mohamed Sayed Hanafi, General Director of the Chamber of Metallurgical Industries, noted that steel factories are expecting a cut in the gas supply by EGAS for the two months during the summer due to increased demand from power stations. The cut will cause steel factories to work at less than 25% of their production capacity, which will increase the costs of production, according to Mohamed Sayed Hanafi, Chairman of EGAS, who had stated earlier that the company would not cut gas supplies to steel factories in August. Overall, we are already expecting DRI-related plants at Ezz Steel [ESRS.CA] would be operating at reduced rates between 25% to 40% during 3Q16 due to higher demand and priority given to electricity plants during summer months. (Enterprise, Ahmed Hazem Maher)   Ezz Steel: EGP7.34 as of 03 July 2016, Rating: Buy, FV: EGP12.00 per share, MCap: USD449mn, ESRS EY / ESRS.CA