Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
We has learned that the market sentiment for imported steel billets in Egypt has weakened recently, leading to downward pressure on S55CM steel prices. Additionally, due to a backlog of orders, local traders in Egypt still have limited new pricing information and higher prices.
On the contrary, there has been a recent decrease in quotes from China. Currently, China's quotation for Egyptian billets (3SP) is about $505/ton, with a shipping schedule for September/October. Due to some local Egyptian traders only completing some billet orders at a relatively high price level at the end of July, local Egyptian traders are cautiously observing this price level, and some traders are considering whether to follow suit. Some market participants have expressed that traders tend to postpone S55CM steel quotes and support prices when market sentiment is low and prices are falling, as they have already sold a large amount of products at previously higher prices, with many transactions priced around $545-565 per ton.
Although traders are aware of lower quotes from China, orders from China will not arrive until October, so local traders in Egypt S55CM steel are more inclined to postpone new quotes and maintain the price of previous goods in the short term.
