Prices unchanged in Egyptian rebar market

According to market sources, rebar prices in the local Egyptian market have remained stable over the past two weeks in the range of EGP 4,350-4,400/mt ($570-577/mt) ex-warehouse, including eight percent VAT, for June production. Market sources state that demand for rebar and purchasing activity are weak in the Egyptian market due to political instability.
 
On the other hand, Chinese rebar offers to Egypt have decreased by $35/mt over the past two weeks to the range of $325-330/mt FOB, for June shipment.
 
$1 = EGP 7.63