Steel rebars prices up by 17% following import tariffs

Steel rebars prices increased 17% from last month after the Trade and Industry Ministry imposed tariffs on imported rebars from China, Turkey, and Ukraine, Reuters reports. The tariff is set to remain in place for four months. Egyptian rebars prices rose to EGP 10,500-10,600 per tonne from EGP 9,000 last month, head of building materials at the Cairo Chamber of Commerce Ahmed El-Zainy tells Reuters. All production inputs for steel are imported and their price doubled since the EGP float.