Prices for steel billet and rebar decreased in Egypt in the week to Thursday February 4 in line with weak demand, with the country still suffering from rebar consumption having decreased by 7.68% in 2020, sources have told Fastmarkets.
Egyptian demand for long steel products was weak for reasons including a ban on construction and the continuing effects of the Covid-19 pandemic.A total of 6.85 million tonnes of rebar was sold in Egypt in 2020, down by 7.68% year-on-year from 7.42 million tonnes in 2019, Ramy Saleh, chief business development officer at El Marakby Steel, told Fastmarkets....