Stability in local Egyptian flat steel market

SteelOrbis has been informed that, in the local Egyptian flat steel market, hot rolled coil (HRC) prices are standing at the level of EGP 4,125/mt ($723/mt) and offers of cold rolled coil (CRC) of 0.6-0.7 mm thickness are at EGP 5,150/mt ($903/mt), while offers of 0.5 mm 120 gr/m² zinc coated hot dip galvanized (HDG) are standing at the level of EGP 5,700/mt ($1,000/mt). All the above prices include 10 percent VAT. In the local Egyptian market, where demand is not very strong, the downtrend in prices is believed to have come to an end. Demand is expected to revive after Ramadan.
 
US$1 = EGP 5.702