Over the past week, demand in the local Egyptian rebar market has remained slack, while prices have remained stable week on week at EGP 11,800-12,200/mt ($658-680/mt) ex-works, including 14 percent VAT. It is speculated that Egypt’s Ministry of Trade is likely to impose a 15 percent tariff on rebar imports and a 10 percent tariff on billet and hot rolled coil (HRC) imports in the coming period within the scope of safeguard measures.
$1 = EGP 17.94