Domestic rebar prices in Egypt are currently in the range of EGP 11,900-11,970/mt ($671-675/mt) ex-works, including fourteen percent VAT. Due to the antidumping duties ranging between seven percent and 29 percent for rebar imports from Ukraine, China and Turkey which were initiated for five years as of December 7, 2017, Egyptian buyers have focused on their domestic market to meet their rebar needs. As a result, demand for domestic rebar in Egypt is at good levels. Market sources report that demand is not expected to decline to weak levels due to ongoing infrastructure and housing projects, while domestic rebar prices are also not expected to indicate any sharp declines in these circumstances.
$1 = EGP 17.74