EGYPT STEEL BILLET, REBAR: Domestic rebar market ‘dead’ but higher offers push up billet import prices

摘要

The construction ban in Egypt killed off activity in the domestic rebar market in the week to Thursday June 4, but steel billet import prices increased because of higher offers from the CIS, sources told Fastmarkets. No improvement in demand was anticipated any time soon because all construction activity in Egypt’s was halted late in May. On May 21, Egypt’s president Abdel Fattah el-Sisi ordered a cessation of all construction activity in Cairo, Alexandria, and Giza to put a stop to building code violations, before extending the order to the rest of the country on May 25. No construction will take place for the next six months.