Egypt’s rebar consumption surges in September

Monday, 12 October 2020 18:14:35 (GMT+3)   |   Istanbul

Egypt’s domestic rebar consumption increased significantly in September, following a few months of challenging business conditions. According to local sources, the demand in September increased by 57.7 percent compared to August and by 35 percent year on year to 702,000 mt. A certain improvement in business and the gap between the local price increase and the increase actually becoming applicable are named among the key reasons for the demand improvement. In addition, the government has somewhat eased restrictions regarding the construction sector and building licenses.

Such a development has created a certain optimism among Egypt’s market players. “I am hopeful for the Q4 average to be better than the first three quarters’ average,” a local mill’s representative told SteelOrbis.

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