Ahead of the second round of the presidential elections, Egypt is witnessing fairly low rebar demand, as political and economic uncertainties still prevail in the country as in previous weeks. Accordingly, the Egyptian rebar market is very quiet and buyers are postponing large orders though they have continued to make purchases in line with their needs.
Rebar prices in the Egyptian domestic market are standing at EGP 4,500-4,600/mt ($744-760/mt) ex-works, exclusive of eight percent VAT.
$1 = EGP 6.05