Egypt: Despite Corona and stop construction licences, rebar producers keep prices
Some positive sentiments are prevailing among the rebar producers, even though COVID-19, as well as the decision to stop construction licences, made demands in the country on the wane.
Therefore, most mills are providing their customers with incentives and keeping official prices unchanged over the month in the range of EGP 9,400-10,214/t ($510-554/t) EXW to support trade and stay afloat.
Moreover, all suppliers are providing substantial discounts to spur buyers’ interest, as the price range with bonuses and discounts included is varying within EGP 9,300-9,750/t ($504-529/t) EXW.
Prices in EGP include 14% VAT;
Currency rate $1 = EGP16.18.