SteelOrbis has learned from market sources that Egyptian flat steel producer
EZDK has increased its May production hot rolled coil (
HRC) offers to the
Middle East and Europe to $680-690/mt FOB. However, it is reported that demand is mainly coming from Saudi Arabia and North
Africa, rather than from Europe.
According to market sources, since flat steel demand is weak in the Egyptian domestic market, producers have switched their focus to the export markets instead.