According to market sources Egyptian buyers have increased their inquires for import semi-finished and finished steel products. Turkish billet offers to country stand in the range of $530-540/mt FOB, though buyers' price expectations are lower than these levels. However, since Ukraine-based Metinvest has announced that it stopped accepting new export orders for a while, Egyptian buyers' interest in Turkish billet offers may increase in the coming days.
On the other hand, ex-Turkey rebar offers to Egypt have edged up by $10-15/mt since last week to $575-580/mt FOB, while an ex-Turkey deal for 5,000 mt of rebar has been concluded in the country at the price level of $580/mt CFR on actual weight basis. CIS rebar offers, meanwhile, for the same destination can be found at $588-590/mt CIF for shipment in October. Egyptian buyers are evaluating the current offers at the moment and by next week new import bookings for billet and rebar are expected to be concluded at these price levels.