EGYPT STEEL BILLET, REBAR: Demand subdued, buyers waiting until end of holidays

Demand for steel rebar and billet in Egypt was subdued in the week to Thursday July 15 because buyers preferred to wait until after the upcoming Eid al-Adha holiday before conducting new business, sources told Fastmarkets.

Eid al-Adha is expected to take place next week and market participants did not want to make any bookings before the four-and-a-half-day religious holiday.

At the same time, uncertainty remains in the market with participants still awaiting a decision from Egypt’s Ministry of Trade & Industry on whether it will...

Published

Serife Durmus

July 15, 2021

13:01 GMT

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