Demand in the local Egyptian rebar market has remained at low levels after the New Year holiday. Following the fall recorded in global scrap quotations, buyers have exerted pressure on domestic rebar prices, while refraining from purchases and maintaining a wait-and-see stance due to the influence of the holiday. In the current week, domestic rebar prices in Egypt have moved sideways at EGP 11,600-11,900/mt ($647-664/mt) ex-works.
$1 = EGP 17.92