EGYPT STEEL BILLET, REBAR: Prices down on weak demand, low rebar consumption

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.
Egypt imposed a ban on construction in May 2020 when the pandemic struck, although it eased the rules the following September.

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....

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals