Demand for steel rebar was very weak in Egypt in the week to Thursday January 28, with buyers expecting producers to reduce their prices.
The rebar producers, however, had not changed their prices at the time Fastmarkets made its price assessment.One of the main reasons for weak rebar demand was the construction ban in the country. Egypt imposed a ban on construction in May 2020, although it eased the rules in September 2020.Contractors and real estate developers were permitted to continue construction on buildings up to four-storeys high, but...