CAIRO — The prices of reinforcing bar, also known as rebar, have been generally falling on the Egyptian market since the last quarter of 2019, hitting a low point in February before moving up again.
The largest rebar companies in Egypt had been repeatedly reducing their prices, which dropped to as low as 9,300 pounds ($598) in February, said Mohammad Hanafi, director general of the Chamber of Metallurgical Industries of the Federation of Egypt Industries.