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.


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