Due to strong political tension in
Egypt, Egyptian flat steel producer
EZDK has kept its domestic hot rolled coil (
HRC) prices unchanged at the level of EGP 4,620/mt ($766/mt) ex-works including 10 percent VAT reported by SteelOrbis last week.
Despite its unchanged domestic prices,
EZDK is trying to push its
HRC offer prices up higher in the export markets, as compared to previous weeks. Accordingly,
EZDK is offering
HRC to
Europe at $700/mt FOB and to Saudi Arabia at $700-705/mt FOB, both for late May and early June rolling. However, European buyers are not showing interest in concluding bookings at this price level.