Egypt’s key steel producer Ezz Steel has increased its export prices for HRC and wire rod for February shipments, following the general uptrends in the mentioned segments.
Having been out of the market for a while, Ezz Steel has started to test the water with $500/mt FOB for HRC. The supplier’s previous price was voiced in early December at around $430/mt FOB. Its offers are in line with the Turkey’s targets, in the European market specifically; however, buyers do not yet seen to be ready to accept such market levels. In the import segment, HRC offers from Turkey to Egypt are at $505-510/mt CFR with no fresh deals reported. In the meantime, offers from some EU sellers are as high as $540/mt CFR including some sizeable extras, SteelOrbis understands.
Export wire rod prices from Ezz Steel are currently standing at $500-505/mt FOB, up by around $40/mt over the past couple of weeks. In particular, the fresh offers to Saudi Arabia are reported at $520/mt CFR Jeddah, versus $480/mt CFR indicated previously, SteelOrbis has learned.
