EGYPT STEEL BILLET, REBAR: Billet import prices up on new deal; market weak amid Covid-19

Prices for imported steel billet in Egypt increased in the week to Thursday April 9, however, market activity was very weak because of the Covid-19 pandemic, sources told Fastmarkets.

Domestic demand is weak, but even then steel billet stocks were low, so buyers booked some material, sources told Fastmarkets.
Local rebar prices have not changed in the country since late February, when some Egyptian rebar producers increased their prices on February 26.
Egyptian rebar producers are still offering rebar at E ?9,600-10,100 ($608-640) per tonne ex-works, including 14% VAT, this week.

Leaving Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic,...

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