Further price softening may revive Turkish rebar transactions to Egypt

Following last week’s price softening seen in Turkish domestic rebar market and Turkish suppliers’ rebar export offers, Turkey’s rebar export offers to Egypt had approached to Egyptian buyers’ expectations. In the past week, Turkey’s rebar offers to Egypt have softened further by $5/mt to $670/mt CIF. Given the Egyptian rebar buyers’ price idea is currently at about $660-670/mt CIF, it would not be surprising to see new transactions from Turkey to Egypt soon.