Latest situation in Egyptian rebar market

SteelOrbis has learned from market sources that Egyptian rebar traders have reduced their offers by EGP 180/mt ($26/mt) since last month, with their offers now at EGP 4,870/mt ($670/mt) delivered and including eight percent VAT.
 
On the other hand, Turkish rebar offers to Egypt have increased $10/mt as compared to last week to $585-590/mt CIF ($570-575/mt FOB) on actual weight basis.
 
$1 = EGP 6.96