Hot rolled coil (HRC) prices have been moving on a sideways trend in the Egyptian flat steel market. Meanwhile, Egypt-based steelmaker EZDK's HRC prices have remained unchanged over the past three months at EGP 4,510/mt ($645/mt) ex-works, while demand is on the poor side.
On the other hand, EZDK's July-August rolling HRC offers for Europe are ranging at $550-560/mt FOB. These offers have been considered on the high side by European buyers, while the mill is accepting firm bids.
$1 = EGP 6.99