Ex-Egypt HRC offers considered to be on the high side

Ahead of Egyptian steel mill EZDK's price announcement in the domestic market for December, flat steel demand in the country has remained on the sluggish side. Meanwhile, ex-Egypt hot rolled coil (HRC) offers for February production have indicated an increase of $40/mt as compared to early November, moving up to the level of $590/mt FOB. However, local market sources tell SteelOrbis that the offers in question are considered on the high side by foreign buyers and concluded transaction volumes have been only for small tonnages, failing to meet expectations.