In the final days of last week, ex-Russia (Severstal) HRC offers to Israel were at $555/mt CFR Ashdod, whereas the same origin CRC offers to Israel were standing at $660/mt CFR Ashdod. Additionally, SteelOrbis had previously been informed that coming towards the end of last week the deal price of 1.9 mm 180 gr/m² zinc coated HDG concluded from Turkey was at around $730/mt CFR Israel for February shipment, whereas 1.9 mm 180 gr/m² zinc coated HDG concluded from China was at $720/mt CFR Israel for mid-January shipment.
On the other hand, as of late last week, Egyptian mill EZDK's HRC export prices were standing at $575/mt FOB (excluding Europe) for March production. The same offers were at $530-560/mt FOB for January production three weeks previous. Meanwhile, ex-Russia HR plates (12-15 mm) were booked to Egypt at $500/mt FOB Black Sea, whereas the same origin offers for HRC to Egypt were at the base price level of $570-590/mt CFR Egypt. All prices were for new production. In the past week, Egyptian mill Kandil was offering HDG (2 mm 120 gr/m² zinc coated) at the base price level of EGP 4,300/mt ($785/mt) ex-works, reflecting a decrease of EGP 100/mt compared to a month ago, whereas the same mill was offering CRC (1-1.8 mm) at the base price level of EGP 4,900/mt ($894/mt), reflecting a decrease of EGP 200/mt over the same period. Both prices are excluding ten percent VAT. Also, in the middle of last week, HRC price levels in the Egyptian domestic market were at EGP 3,100/mt ($566/mt) ex-works excluding ten percent VAT, remaining unchanged compared to the level of two weeks before. In the same context, ex-Russia HRC offers to Tunisia were at the base price levels of $550-560/mt CFR Tunisia.
In conclusion, generally market players have commented that, given the current weakness of demand, demand cannot be said to be behind the rise in offer levels; meanwhile, it is also said that stocks are at high levels.