Egypt’s largest steel producer Ezz Steel has not changed its hot rolled coil price for August. Steel Business Briefing is informed by a company spokesperson that the price remains at the July level of LE 3,750/ton ($653/t), without 10 percent sales tax.
The company had reduced its HRC price for July bookings by LE 200/t, as reported. SBB is told that Ezz’s price is in line with the global market prices, and that demand is good for the company’s products.
The Egyptian market had expecting the company to increase its August price by as much as $10/t, and had told SBB that a bigger increase than this would not be accepted, as previously reported.