Flat steel demand in the Egyptian domestic market has regressed to low levels in general with the start of Ramadan, while hot rolled coil (
HRC) demand from Egyptian traders has continued as before. After Ramadan, demand in the country is expected to return to normal levels.
HRC prices in the Egyptian domestic market are standing at EGP 4,100/mt ($676/mt) ex-works, while Egyptian
HRC offers to export markets for August rolling are at the base price range of $640-660/mt FOB. In the meantime, Ukrainian
HRC offers to
Egypt are standing at $575/mt CFR.
$1 = EGP 6.07