Market players report that the Egyptian rebar market has remained stagnant in terms of activity, with transaction volumes still on the poor side. Hot weather conditions prevail in the country, resulting in slackness in construction activity, though the political situation has started to settle down after the presidential elections. Meanwhile, Egyptian steelmakers such as EZZ Steel and Beshay Steel announced their new quotations for June production rebar early this week.
On the other hand, Turkish rebar offers to Egypt are standing at $570/mt FOB, though no deals have been heard so far at this level.