Middle Eastern and North African flat steel markets witness fewer transactions

Due to the political turmoil in North Africa and the Middle East, flat steel demand in the region has slowed down, impacting transaction volumes. While local flat steel producers have increased their prices, it is yet to be seen to what extent the higher prices will be accepted in the market.
 
In the UAE market, import hot rolled coil (HRC) offers are currently standing at $800-820/mt FOB.
 
On the other hand, SteelOrbis has learned that Libyan steel mill Libyan Iron and Steel Co. (LISCO) is offering March production HRC to the export markets at the price level of $765/mt FOB.
 
Due to the political uncertainty in Egypt, no new flat steel export offers have been heard from the country, while previously concluded flat steel cargoes en route to Egypt are reported to have been diverted by traders to alternative destinations.
 
Meanwhile, HRC offers from Russia to Tunisia stand at $855/mt CFR, while Algerian HRC and CRC offers to Tunisia stand at $850/mt CFR and $990/mt CFR respectively.