Rebar prices in Egypt have risen as high as EGP 39,000 (approximately USD 1,262). However, due to oversupply and lack of demand in the market, a major increase in prices is not expected. There is unlikely to be a significant increase in rebar demand in the first six months of 2025. Prices are expected to show only small fluctuations depending on the exchange rate and raw material imports.
Ahmed El-Zeiny, Head of the Construction Materials Department at the Federation of Egyptian Chambers of Commerce, explained that rebar prices have risen to around EGP 39,000 (around USD 1,262) per tonne nationwide since April. However, El-Zeiny noted that supply has exceeded demand and market conditions reflect this situation.
El-Zeiny said in an interview that future rebar prices will depend on raw material imports and exchange rate fluctuations of the Egyptian pound. He emphasised that possible price increases will be limited, and the demand for rebar is not expected to increase in the first six months of 2025. Housing prices are also expected to remain stable during this period.
Currently, rebar prices in Egypt range from EGP 36,000 (around USD 1,165) to EGP 38,200 (around USD 1,237) per tonne at the factory level. By the time it reaches end consumers, the price increases by around EGP 1,000 (around USD 32) per tonne, depending on the region and supplier.
On the other hand, Egypt's iron and steel exports decreased by 17% in the first half of this year to USD 1bn (approximately USD 1,065mn). In the same period of 2023, this figure was 1.2 billion USD. Türkiye was the largest importer of rebar from Egypt with purchases of $138.3 million, accounting for 13.5 per cent of total exports. El-Zeiny said that supply continues to exceed demand, adding that he expects stability in prices in the short term or only minor fluctuations.
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