Since the latest price rise recorded in local Egyptian rebar market in the second half of March, buyers consider domestic rebar prices to be on the high side and so they are still concluding purchases only in line with their needs. On the other hand, Egyptian buyers are unwilling to reduce their domestic rebar quotations since they are happy with their order books. As a result, the domestic rebar prices of Egyptian mills have remained stable over the past week at EGP 12,525-12,996/mt ($708-734/mt) ex-works.
$1 = EGP 17.70