Egyptian producer EZDK's HRC offers to its domestic market have shown no change as compared to five weeks ago and are currently standing at the level of EGP 2,800/mt ex-works on actual weight basis. Meanwhile, in the HDG offers given by another Egyptian producer, Kandil, the base price levels are at EGP 3,800/mt ex-works on actual weight basis, indicating an increase of EGP530/mt as compared to two weeks ago.
As for the export market, HRC offers given by EZDK to Saudi Arabia are at $500/mt FOB for October production material, indicating a $90/mt increase compared to five weeks ago.
On the other hand, with regard to HRC offers given from the CIS, prices currently stand at $450-480/mt CFR Egypt.
It is mentioned that flat steel price levels may increase any time soon in the local Egyptian market. However, besides the successful sales operations of EZDK, it is also thought that stocks are at high levels in the local market and that the market may slow down in particular as Ramadan approaches.