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

March 27, 2020 / www.metalbulletin.com / Article Link

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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