According to market sources, rebar prices in the local Egyptian market are in the range of EGP 4,650-4,730/mt ($609-620/mt) ex-warehouse, including eight percent VAT.
On the other hand, Chinese rebar offers to Egypt are currently at $410-420/mt CFR. Egypt's Ministry of Industry and Trade has imposed import duty on rebar and wire rod in its final decision in the safeguard duty investigation regarding imports of the products in question. Accordingly, prices in the local Egyptian rebar market, which have been depressed by cheap imports, are expected to increase in the coming period.
$1 = EGP 7.63