Following several months of slack business activity, Egypt’s rebar suppliers finally saw some rebound in activity in March.
According to sources, local consumption in March finally recovered to reasonable levels, increasing by 64.8 percent month on month to 776,000 mt compared to 471,000 mt seen in February. In terms of the year-on-year comparison, the figure increased by 28.85 percent from 605,000 mt in March last year, the official data indicate. “The local prices have been stable for a while now and it helped the reactivation of delayed demand,” an Egyptian producer told SteelOrbis.