The prices of steel billet and rebar in Egypt were stable in the week ended Thursday August 1 on weak demand, due to continuing uncertainty over the country's import duties.
"Offer prices are high, but nobody wants to book [material] before the duty situation is finalized," a local market source told Fastmarkets.In April, Egypt imposed a temporary additional import duty on rebar and billet in response to the increase in volumes entering the country, with duties set at 25% for rebar and 3-15% for billet.The...