According to market sources, demand in the local Egyptian hot rolled coil (
HRC) market has remained weak over the past month, while domestic prices have moved sideways at EGP 4,410/mt ($578/mt) ex-works in the same period.
Meanwhile,
Egypt-based steelmaker EZDK Steel is expected to announce its April rolling
HRC prices next week. Although
HRC stocks are not at high levels in the local market, Egyptian traders want prices to remain unchanged due to their previously given orders, while they are concerned due to the possibility that declining global
HRC prices may be reflected in April rolling local
HRC prices.