Export prices for rebar ex-Egypt are at $620-625/mt FOB on actual weight basis for June shipments.
Egyptian mills have dropped their export rebar prices slightly following the price corrections seen in scrap and billet. However, even with these reduced prices they are having difficulties in competing with other countries in their exports to Eastern Europe and Russia. Contrary to the trend in scrap and billet prices, rebar prices in the domestic Egyptian market have increased by EGP 150/mt (approx. $26/mt) to EGP 3,550/mt (approx. $625/mt).