Rebar market of Egypt has witnessed a decline of consumption in July, following the post lockdown rebound, seen in the previous month. The demand was only 439,000 mt of rebar, down by 33 percent compared to June this year and by 33.5 percent down year-on-year, SteelOrbis has learned. Local steel market players stated that the consumption has been affected by the holiday period and the restrictions, connected to building licenses.
August numbers are expected to be higher, taking into account seasonal factors. In addition, buyers might choose to restock since the local rebar prices in Egypt might increase, supported by strong raw materials and billet prices globally.