Demand at very low levels in Egyptian rebar market

Rebar demand has continued to remain at very low levels in the local Egyptian market due to political and economic uncertainties. Meanwhile, Turkish rebar offers to Egypt are standing at $630/mt CFR, but buyers in Egypt are not in a rush to conclude new deals amid the extremely low demand levels observed in the market. Additionally, local buyers are expecting import offers to soften further, and so they are not that interested in the offers in question for now.