Egyptian rebar mills enjoy higher local consumption in December

Wednesday, 13 January 2021 16:24:58 (GMT+3)   |   Istanbul

Domestic steel rebar consumption in Egypt significantly improved in December, supported by the global price uptrends for finished steel and raw materials. However, the forecast for January is mainly negative.

According to local sources, the strong price uptrend, seen globally in the fourth quarter last year has helped the Egyptian mills to compensate for their low sales in the two previous quarters. In December alone, local rebar consumption in Egypt increased by 18.5 percent month on month and by 24.3 percent year on year to 816,000 mt.

Overall, the total volume of rebar sales in 2020 is reported by local sources at 6.85 million mt, versus 7.42 million mt seen in 2019. The downturn is the result of the Covid-19-related restrictions and the suspension of building licenses.

Most Recent Related Articles

GCC buyers focus on sourcing billet regionally

MMK’s tinplate shipments hit record high in 2020

Saudi Arabia to lift embargo on Qatar

Algeria adjusts VAT rates for billet, rebar and scrap

Egypt’s Ezz Steel pushes local rebar price up further