Demand in the local Egyptian rebar market has remained at low levels during the past week. Market sources state that Egyptian buyers consider the current levels of domestic rebar prices to be on the high side, and so are concluding deals only in line with their needs. This is exerting downward pressure on the local Egyptian rebar market. On the other hand, Egyptian rebar producers have kept their domestic prices stable week on week at EGP 11,800-12,200/mt ($658-680/mt) ex-works, despite the weakness of demand.
$1 = EGP 17.93