Domestic rebar prices in Egypt have remained stable over the past week and are still at EGP 11,200-11,650/mt ($650-676/mt) ex-works.
On the other hand, market sources state that Egyptian rolling mills are trying to calculate their costs and have halted their sales for some time following the Egyptian government’s decision to impose temporary duties on billet and rebar imports as of the beginning of the current week (April 15). As a result, buyers are focused on meeting their needs from those Egyptian mills which produce rebar from their own billets.
$1 = EGP 17.24