Hot rolled coil (
HRC) demand in the Egyptian domestic market has remained low, while
HRC prices have followed a sideways trend. After Ramadan, demand in the market is expected to recover and new offer levels for
HRC are anticipated from
Ukraine.
In the meantime,
HRC prices in the Egyptian domestic market are standing at EGP 4,100/mt ($674/mt) ex-works, while Egyptian
HRC offers to export markets for August rolling are at the base price range of $640-660/mt FOB. In addition, Ukrainian
HRC offers to
Egypt are still standing at $575/mt CFR.
$1 = EGP 6.08