Turkish rebar offers to Egypt

SteelOrbis has learned that Turkish mills' rebar offers to Egypt have increased by $20-25/mt as compared to early last week, reaching $700-705/mt CFR on actual weight basis and for prompt shipments.
 
Although there is moderate rebar demand potential in the Egyptian market, buyers are not inclined to book material at the moment, finding the above-mentioned price level on the high side. Market players believe that the Egyptian long steel producer EZZ Steel will increase its domestic rebar price in early January and Egyptian buyers are expected to decide their new bookings once new price levels gain shape.