Rebar prices in the domestic market of Egypt picked up in the week ended Thursday May 2 amid higher import billet costs due to the temporary duty imposed on foreign material and lower availability of rebar as a consequence.
Egypt imposed temporary import duties on billet and rebar on April 15 at a rate of 25% for rebar imports and 3-15% for billet imports.The safeguard duty on billet is close to the cost of re-rolling billet into rebar. This has made...