Hot rolled coil (HRC) export prices from Egypt have increased over the past month in line with the general uptrend in the region and the somewhat limited allocation from other producers. However, there are still some more competitive offers in the Mediterranean region.
Local producer Ezz Steel is now in the market to sell HRC for December shipments at $540-550/mt FOB, up from deals at $530-535/mt FOB done in the previous round of sales, to Saudi Arabia. The lower end of the range is available for the EU market specifically, sources say. However, Turkish mills are in the market with $530-540/mt FOB offers, with little feedback seen from international buyers, SteelOrbis understands.
In the local market, Ezz Steel is offering the equivalent of $520/mt ex-works without 14 percent VAT. Domestic demand has been limited, but the local producer has been enjoying rather lively business. The key reason is the limited number of offers in the import segment, taking into account that almost all CIS-based HRC suppliers are out of the market. Turkey’s indications have been reported at around $545/mt CFR, while some traders have been in the market with $530/mt CFR for CIS origin products.
