Egyptian flat steel producer EZDK's hot rolled coil (HRC) offers to its domestic market are standing at EGP 4,640/mt ($768/mt) ex-works, inclusive of 10 percent VAT. In the meantime, the producer's HRC offers to Saudi Arabia are at the base price level of $680/mt FOB, while its offers to Europe are at the base price level of $670/mt FOB, both for July rolling.
EZDK's HRC domestic offers for June production were at EGP 4,600/mt ex-works, including VAT, while its HRC offers to Saudi Arabia were standing at the base price range of $700-705/mt and its offers to Europe were at $700/mt FOB.
Market players state that EZDK's order books are full until mid-July and that the producer prefers to sell capacity forward as much as possible once price downtrends start to be felt in the market. In this way, the producer is able to maintain the strength of its prices.
$1 = EGP 6.039