Turkish rebar offers to Egypt

SteelOrbis has learned that Turkish mills' rebar offers to Egypt have increased by $5-10/mt as compared to last week, reaching $680/mt CFR on actual weight basis and for prompt shipments.
 
Although there is certainly rebar demand potential in the Egyptian market, buyers are not inclined to book material at the above-mentioned price level. While Egyptian buyers are currently supplying their needs from the local market, it is thought that buyers may consider purchasing imported material if domestic rebar prices increase in the coming weeks in line with expectations.