Last week, Turkish mills' rebar offers to Egypt were standing at the price range of $700-705/mt CFR for prompt shipments. Moving to this week, although Turkish rebar offers to Egypt have been still maintained at $700/mt CFR, since these offers are now for late January shipments, Egyptian buyers are not currently concluding any transactions at this price level, finding the price level on the high side.
In the meantime, as the year 2011 comes to a close, it is reported that rebar demand in Egypt has slowed down slightly.