Following the weakness of demand in the local Egyptian rebar market during Ramadan due to buyers concluding purchases only in line with their needs, demand in the market has improved over the past week as buyers have restarted purchases. While the rises in electricity and import billet prices last week have been reflected in the local Egyptian rebar market this week, Egyptian rebar mills have increased their domestic offers by EGP 275/mt on the lower end week on week. Accordingly, domestic rebar prices in Egypt are now at EGP 12,575-12,800/mt ex-works, including fourteen percent VAT.
$1 = EGP 17.88