SteelOrbis has been informed that Egyptian flat steel producer EZDK has decreased its hot rolled coil (HRC) export offers by $10/mt due to weak demand, to the level of $740/mt FOB for November rolling. In the meantime, another Egyptian steel producer the Egyptian Iron and Steel Company (Hadisolb) is offering HRC to export markets at $715/mt FOB for 90-days deferred payments, also for November rolling.
SteelOrbis has heard from market players that prices may further decline in the coming period.