In the Egyptian flat steel market demand is still weak, and Egyptian flat steel traders consider that both local and foreign producers may reduce their offers further in December. The Egyptian flat steel producer EZDK is expected to issue its domestic hot rolled coil (HRC) offers for December soon, while its HRC export offers have remained unchanged in the past two weeks at $610-620/mt FOB.
With the approach of the end of the year, flat steel bookings in Tunisia have further slowed down, and transactions are expected to remain on the scarce side in the coming weeks due to weak demand, even if import offers meet buyers' price expectations. Currently, Russian HRC offers to Tunisia are at the average price level of $675/mt CFR, while Russian offer prices are at $765/mt CFR for cold rolled coil (CRC). However, next week Russian producers are expected to announce their offers for January production and Tunisian buyers anticipate lower prices in these offers.