Most rebar-producing factories have decided to fix the prices of the products sold to consumers in May at LE4,800 per ton, one month after three-year protection fees of 8 percent were imposed on imported steel, particularly from Turkey and China.
George Matta, a leader from the Ezz al-Dekheila Steel group, said they made that decision this month, despite a price increase for scrap metal in the international market, at an average of US$15 per ton. Sources from other major companies said they made similar decisions.
Meanwhile, a source from Chamber of Metallurgical Industries expected a 'war' to take place between local and imported production after the protection fees were imposed.
Edited translation from Al-Masry Al-Youm
