EGYPT STEEL BILLET, REBAR: Billet import prices down in weakened market

Prices for imported steel billet in Egypt decreased in the week ended Thursday March 26 with market activity being very weak because of the Covid-19 pandemic, sources told Fastmarkets.

The spread of Covid-19 in the country has caused market activity to soften significantly, the sources added.
Egyptian natural gas prices were decreased by $1 to $4.50 per MMBtu this week, after electricity prices were reduced by E ?0.10 per kWh last week. In addition, the Egyptian Central Bank has reduced interest rates in the country.

But local rebar producers have not changed their prices in...

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