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