Egyptian buyers’ demand for import rebar on the low side

According to market sources, demand for import rebar in the Egyptian market has remained poor since last week. Despite significant numbers of import offers from China and Turkey, local buyers are in no rush to conclude fresh bookings at the moment. However, an ex-China deal for 3,000 mt of rebar has been heard in the past week at $502-510/mt CFR, which is the current offer range.
 
On the other hand, Turkish rebar offers to Egypt are standing at $585/mt CIF, though Turkish mills are finding it difficult to compete with Chinese offers.