According to market sources,
Egypt-based steelmaker
EZDK Steel has reduced its January rolling hot rolled coil (
HRC) prices by EGP 30/mt ($4/mt) as compared to prices for December
production materials to EGP 4,410/mt ($604/mt) ex-works, excluding 10 percent VAT. Market sources state that the downward trend in the global
HRC market and slack domestic demand have negatively affected the Egyptian
HRC market, causing prices to decline.
$1 = EGP 7.3