EGYPT STEEL BILLET, REBAR: Prices increase on new offers, demand still weak

Prices in Egypt for steel billet imports and domestically produced steel rebar increased in the week to Thursday July 30 because of higher offers, despite soft demand, sources have told Fastmarkets.

CIS-origin billet was offered this week at $415-425 per tonne cfr, up from offers at $405-410 per tonne cfr last week.
Traders said that it was impossible to import billet because of the low rebar prices in the domestic market and the 16% safeguard duty imposed on billet imports.

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