It is observed that demand in the local Egyptian rebar market has been at low level over the past week. Market sources state that, despite their higher production costs as a result of import billet quotations increasing to $460-470/mt FOB, Egyptian mills have kept their domestic rebar prices stable week on week at EGP 11,850-12,150/mt ($674-692/mt) ex-works due to the weakness of demand.
$1 = EGP 17.57