Egyptian rebar market remains quiet

Wednesday, 21 November 2012 17:00:13 (GMT+3)   |   Istanbul
       

Activity has remained quiet in the Egyptian rebar market. While domestic rebar producers have been trying to foster expectations of an upward price trend in early December, there are no signs in the market that prices will actually increase.
 
On the other hand, Turkish mills' rebar offers to Egypt are standing at $610-620/mt CIF, while an ex-Turkey rebar deal has been concluded lately in Egypt at the price level of $610/mt CIF. In the meantime, Egyptian market players indicate that, while the level of $610/mt CIF was acceptable last week, it will no longer gain acceptance in the local Egyptian market as demand is getting weaker.
 

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