Egypt's Steel Market Stabilizes After Recent Price Hikes: Awaiting Future Trends

Egypt's Steel Market Stabilizes After Recent Price Hikes: Awaiting Future Trends

The Egyptian steel market experienced notable stability today, Tuesday, March 17, 2026, across both factories and local markets. This follows a period of successive price increases that had caused concern within the construction sector. The current calm temporarily halts an upward trend that had pushed rebar prices to unprecedented levels, occasionally reaching around EGP 37,000 per ton.

Current Price Details

According to market reports, the ex-factory price for most types of rebar ranged between EGP 34,500 and EGP 37,500 per ton. The average price at some distributors across the governorates reached approximately EGP 36,000 per ton. This slight variation is attributed to differences among manufacturers, company policies, and geographical distribution areas, as well as declared monthly and fixed pricing strategies.

Reasons Behind Previous Increases and Their Impact

Steel prices had previously seen an increase of EGP 1,000 per ton, primarily due to the repercussions of the conflict in the Gulf region and its impact on global supply chains. These geopolitical circumstances led to a significant surge in shipping costs, which in turn were affected by rising global fuel prices. This directly translated into higher costs for importing raw materials and manufacturing steel locally.

Market Experts' Insights

Commenting on the current situation, Ahmed El-Ziny, Head of the Building Materials Division at the Cairo Chamber of Commerce, stated that the local market is witnessing remarkable stability in steel prices after the recent surge. El-Ziny clarified that prices among companies and distributors had ranged between EGP 34,500 and EGP 37,500 per ton during the past period. He also noted that some traders had raised prices by EGP 500 to EGP 1,000 per ton, despite stable factory prices, indicating an additional profit margin imposed by distributors in certain instances.

Prices of Major Steel Brands Today

Steel prices vary among manufacturers, with the following levels recorded today, Tuesday, March 17, 2026:

• Ezz Steel: EGP 37,200
• Beshay Steel: EGP 37,600
• Egyptian Steel: EGP 36,500
• Garhy Steel: EGP 34,600
• Gioshy Steel: EGP 35,500
• Suez Steel: EGP 36,500
• Marakeby Steel: EGP 36,300
• El-Ashry Steel: EGP 35,500

It is important to note that these are ex-factory prices. The price to the consumer may include an additional increase of approximately EGP 1,000 per ton, depending on the governorate or steel company, averaging around EGP 36,000 per ton.

Importance of Steel Price Stability for the Construction Sector

Steel is one of the most vital raw materials used in the building materials sector, heavily relied upon for various urban development projects, whether residential, commercial, or infrastructure. Therefore, its price stability is a crucial factor directly impacting construction activity, contributing to the stability of project costs, and enhancing companies' ability to plan and execute more efficiently. Amidst the major national projects underway in Egypt, stable steel prices support comprehensive urban and economic development efforts.

Future Market Outlook

Despite the current stability, the Egyptian rebar market remains influenced by a set of dynamic factors. These include global energy prices, shipping costs, the Central Bank of Egypt's exchange rate policies, and the volume of local demand driven by government and private projects. Analysts anticipate that the market will continue to monitor these indicators closely, with the potential for minor fluctuations based on any emerging economic or geopolitical developments. The greatest challenge remains maintaining a balance between production costs and the purchasing power of consumers and real estate developers to ensure the continued growth of the construction sector.