Uptrend of local Egyptian rebar market comes to a halt

Wednesday, 28 March 2018 16:26:54 (GMT+3)   |   Istanbul
       

Following strong demand lasting two weeks, it is observed that demand in the local Egyptian rebar market has declined during the past week. Market sources have stated that recent price increases recorded in the local Egyptian rebar market have failed to gain acceptance, and so the upward movement of the market has come to a halt as buyers have started to conclude deals only in line with their needs. On the other hand, Egyptian rebar producers are not considering reducing prices for their domestic market amid ongoing high production costs. As a result, domestic rebar quotations in Egypt have remained unchanged during the past week at EGP 12,525-12,996/mt ($710-737/mt) ex-works, including 14 percent VAT.

$1 = EGP 17.64

 


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet