Ex-Turkey rebar offers at $605-610/mt FOB, excluding import tax, are considered to be on the high side by Egyptian buyers, while local sources state that offers in the range of $570-575/mt CIF may gain acceptance in the region.
Meanwhile, domestic steelmakers' March output rebar prices in the local Egyptian market are also considered to be high, though buyers have been meeting their needs from local mills due to the impact of import taxes. In the meantime, EZZ Steel's domestic rebar offers are at EGP 4,960/mt ($730/mt) ex-works, while the prices of Suez Steel and Beshay Steel are at EGP 4,950/mt ($729/mt) ex-works.
$1 = EGP 6.79