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Egyptian steel prices set to jump in 2010

Emirates Business 24/7 quoted Al Ezz Steel Rebars as saying that Egyptian steel prices will rise in 2010 amid increased demand from home builders and infrastructure projects.

Mr Kamel Galal head of Investor Relations at Al Ezz said that "We are seeing better prices in 2010. Demand for long products that are related to construction will continue to grow."

Mr Galal said that Al Ezz increased its ex-factory steel price in January by 3.4% to EGP 3,050 per tonne.

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