Egyptian rebar market waits for election results

The Egyptian domestic rebar market has remained silent again in the past week, due to the ongoing economic and political uncertainty in the country. However, Egyptian market players are now looking forward to seeing the results of the second round of the presidential elections held yesterday, June 17. Rebar demand in Egypt is fairly low, as buyers, anxious to avoid risks, are delaying their purchases for the time being.
 
There are some rebar offers given from Turkey to Egypt at $630/mt CIF, though Egyptian buyers are not showing interest in these offers, anticipating that prices will slide down.