After announcing its hot rolled coil (
HRC) export price for Europe at $580/mt in early January, Egyptian steel producer
EZDK has since further increased its
HRC offers to Europe. After adjusting its
HRC export price to $620/mt in the second week of January,
EZDK has pushed its offers up to $620-630/mt early this week, with the total increase in price now reaching $40-50/mt. However, European demand lacks strength and fluctuations in the exchange rate of the US dollar versus the Egyptian pound have been causing a slowdown in business activity.