In the Egyptian hot rolled coil (
HRC) market, demand now seems better with improved transaction activity observed. Egyptian flat steel producer
EZDK has increased its
HRC export offers to $670/mt FOB for April shipments. In the meantime, it is reported that
HRC demand in the Middle East and North
Africa is currently better than demand in Europe, and thus
EZDK is focusing on these livelier markets.
Currently, the Tunisian
HRC market has improved as compared to December, with inventory levels somewhat lower than in previous weeks and demand getting stronger. In the meantime,
HRC import offers to the Tunisian market are on the rise. Russian steel producer
MMK is offering February production
HRC to the Tunisian market at $690/mt CFR, compared to its offers at $640/mt CFR for January rolling. Following this price increase of $50/mt, Tunisian buyers state that they find the new offers to be on the high side and that they are expecting some discounts.