SteelOrbis has learned from market sources that October production hot rolled coil (HRC) offers from Egyptian producer EZDK (Al-Ezz Dekheila Steel Co.) are still standing at EGP 4,300/mt ($624/mt) ex-works. It is expected that EZDK will announce its November production HRC in the first week of November. As for import side in Egypt, HRC offers from Russia are in the base price range of $565-570/mt CFR. Market sources state that the recent offers from Europe to Egypt were at 565$/mt CFR in the period before the Feast of Sacrifice holiday.
Meanwhile, local prices for hot dip galvanized (HDG) coil from Egyptian steelmaker Kandil Steel are at EGP 6,400/mt (929$/mt). However, it is also stated by market players that Egyptian HDG prices are struggling to compete with the ex-China offers although domestic prices in Egypt are found to be at quite reasonable levels.
$1 = EGP 6.89