Ezz Steel (EZDK), which has a domestic market share of 60 percent and a total 2.2 million mt of HRC production capacity at its factories located in Alexandria and Suez, has reduced its HRC prices as they were at high levels compared to import prices in the market. This step taken by the producer in question in order to maintain its market share has raised concerns among local end-users that prices may show a further decline.
On the other hand, looking at the import side, HRC offers given from Ukraine to Egypt are at the level of $370-380/mt CFR Egypt, while ex-Russia HRC offers given to the same country are at $400-420/mt CFR Egypt - both for May shipment.
US$1 = EGP 5.62456