Ex-Egypt flat steel offers to Turkey

According to market sources, an Egyptian cold rolled coil (CRC) producer's price offer to a Turkish customer is heard to be at $660-670/mt FOB, while a hot dip galvanized (HDG) offer from the same manufacturer is heard to be at $720/mt FOB, both for January shipments. Meanwhile, it is also stated that the local Egyptian market has been negatively affected by the decline in flat steel prices. Buyers in the local market have started to adopt a wait-and-see stance and have declared that they will decide to conclude deals depending on flat steel prices in the first quarter of 2015.
 
Meanwhile, the same Egyptian steelmaker has been showing more interest in hot rolled coil (HRC) offers from East Asian countries, which are at overall $500/mt CFR, since HRC offers from Turkish producers to the company have remained higher.
 
$1 = EGP 7.16