According to market sources,
rebar prices in the local Egyptian market have remained stable over the past two weeks in the range of EGP 4,350-4,400/mt ($570-577/mt) ex-warehouse, including eight percent VAT, for June
production. Market sources state that demand for
rebar and purchasing activity are weak in the Egyptian market due to political instability.
On the other hand, Chinese
rebar offers to
Egypt have decreased by $35/mt over the past two weeks to the range of $325-330/mt FOB, for June shipment.
$1 = EGP 7.63