Egypt's rebar consumption decreases by 35% y-o-y in May

Egypt consumed 312,000 tonnes of rebar in May 2020, 35.36% less than the 482,700 tonnes consumed in May 2019, Egyptian sources told Fastmarkets.

This is the lowest rebar consumption figure for the last ten years, sources noted. Comparatively, Egypt consumed 452,800 tonnes of rebar in April 2020, sources said.
If consumption continues to fall at this rate, market sources expect the country's annual rebar consumption to fall to 6 million tonnes in 2020, from about 7.4 million tonnes in 2019.

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