Egyptian flat steel market remains sluggish

Monday, 01 July 2013 10:38:06 (GMT+3)   |   Istanbul
       

Hot rolled coil (HRC) prices in the Egyptian domestic market have remained stable since last week at EGP 4,950/mt ($705/mt) ex-works. Due to the political turbulence in the country, trading has almost stopped and demand is very weak.
 
On the export side, HRC offers to Tunisia from Egypt are at $575/mt CFR, while Egyptian cold rolled coil (CRC) offers to the same destination stand at $645/mt CFR.  However, Tunisian buyers have been waiting to hear offers from Russian steelmaker MMK and so they are showing little interest in the Egyptian offers at the moment.
 
$1 = EGP 7.02

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