Egypt-based EZDK announces its new HRC prices

According to market sources, Egypt-based steelmaker EZDK Steel has reduced its January rolling hot rolled coil (HRC) prices by EGP 30/mt ($4/mt) as compared to prices for December production materials to EGP 4,410/mt ($604/mt) ex-works, excluding 10 percent VAT. Market sources state that the downward trend in the global HRC market and slack domestic demand have negatively affected the Egyptian HRC market, causing prices to decline.
 
$1 = EGP 7.3