North African HRC markets not foreseen to improve until mid-January

Hot rolled coil (HRC) demand in Northern African markets is fairly low and an improvement in these markets is unlikely to be seen before mid-January.
 
Lately, Egyptian flat steel producer EZDK has kept its HRC export offers unchanged at $630/mt FOB, while it is also thought that transactions may be concluded at lower levels. In the meantime, Russian producers are offering HRC to the Egyptian market at $650/mt CFR. While Saudi buyers' firm bids given to EZDK for HRC of 1.2 mm thickness stand at $705/mt CFR, it is still yet to be seen whether the producer will accept this counter offers.
 
In Tunisia flat steel demand is very low and market activity is weak, as buyers delay their bookings, seeking to avoid increases in their inventory levels. Nevertheless, Russian producers' HRC offers to Tunisia stand at $650-670/mt CFR.