Egypt imports 50,000 tonnes of rebar with $19bn in July

Egyptian firms importing steel have contracted on purchasing 50,000 tonnes of rebar with the cost of US$19 million in July, Head of Building Materials Division at Cairo Chamber of Commerce stated Monday.

Speaking to Amwal Al Ghad Monday, Ahmed Al-Zeiny said that the firms agreed to purchase the 50,000 tonnes at around US$380 per ton, adding that the selling price for consumer is expected to reach around 5,600 Egyptian pounds per ton.

Head Al-Zeiny noted that the number of registered firms that export rebar to Egypt are five, including one Turkish, one Ukrainian, and another Chinese one.