Rebar demand declining

Rebar demand in Egypt has declined during the last few days, according to the general manager of the Metallurgical Industries Chamber, Mohamed Hanafi, who attributed the decline to an average increase of LE400 per ton in local rebar prices.

Hanafi said that new rebar imports arrived at the Damietta and Alexandria ports after a number of new import deals were made. The current retail price of rebar for consumers ranges between LE4450 to LE4620 per ton, whereas the price of rebar purchased wholesale directly from the factory ranges between LE4350 to LE4450 per ton.

Hanafi told Al-Masry Al-Youm that  prices of Turkish rebar bought wholesale directly from Damietta Port are around LE3900 per ton, whereas the typical retail price is LE4400 per ton, a saving of LE50 to LE120 as compared with locally produced rebar.

Translated from the Arabic Edition.

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