Early this month, Egyptian flat steel producer
EZDK had announced its domestic hot rolled coil (
HRC) price at EGP 4,450/mt ($746/mt) ex-works, excluding 10 percent tax. While the producer is expected to announce its new
HRC price for December rolling in the coming days, the new prices are predicted to be lower as compared to actual prices. It has been learned that
EZDK is requesting firm bids for its
HRC export offers and that it is only giving prices in response to precise firm offers from buyers. The latest
HRC export offers from
EZDK were standing at $700/mt FOB. A price cut is also anticipated for
EZDK's
HRC export offers.
In the Tunisian flat steel market, demand is significantly low and buyers are delaying their flat steel bookings, as they already have high inventories. Ex-
Russia and
Ukraine HRC offers to
Tunisia at $670-720/mt CFR are above Tunisian buyers' price expectations. In previous months, Tunisian buyers had concluded some transactions from Europe at reasonable prices. It is learned that materials from these bookings are still available in the market. Market sources state that orders from the Tunisian market may accelerate in the coming weeks.