Flat steel demand in North Africa shows signs of recovery

Thursday, 02 February 2012 14:47:55 (GMT+3)   |  
       

In the Egyptian flat steel market, end-user demand and booking activity have revived lately. The domestic transaction volumes of Egyptian producers and traders have increased as local buyers prefer to buy domestic products instead of export materials, while Egypt's flat steel sales to Saudi Arabia have also shown growth. In the meantime, Egyptian flat steel producer EZDK has kept its domestic hot rolled coil (HRC) price unchanged as compared to previous levels at EGP 4,200/mt ($697/mt) ex-works, excluding 10 percent sales tax. EZDK's HRC export offers are standing at the base price level of $670/mt FOB.

On the other hand, flat steel prices in the Tunisian market have been maintained at the previous week's level. While HRC import offers from Russia to Tunisia are at the range of $670-680/mt CFR, Ukrainian producers' offers are at $650/mt CFR. Besides, Egyptian producer Kandil Steel's offers to Tunisia for 1.5 mm hot dip galvanized (HDG) coil are at around $980/mt CFR base price level, which is considered to be on the high side by local buyers. Flat steel demand in Tunisia is expected to recover this month.


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