In 2024, the outlook for African steel prices has so far been uneven. In West Africa, the majority is from China and some from South Africa. In Kenya, demand is very low due to the political situation and local prices in Kenya continue to fall following the same trend as worldwide. CR, GI and PPGI continue to fall, as does HRC, and despite the revaluation of the local currency (Kenya Shilling) - which has made imports more affordable - demand is still low compared to previous years. Low demand for flat steel products in Kenya is attributed to domestic political instability and not to the fall in international prices. In Uganda, the steel market is more stable than in other countries, but the war in Gaza is said to have negatively affected freight and transportation.
In addition, many projects have been suspended, which has increasingly slowed down demand. There is no clear forecast for the coming period. It is thought that demand will not increase unless the government releases the projects, which affects not only the steel sector but the entire construction industry.
The latest on African flat steel prices;
Kenya
HRC Base 2.00mm+
China $560 CFR Mombasa
Japan $570 CFR Mombasa
Price including cost of finance of 180 days
(Offers from last week)
Egypt
Cold Rolled $750 CFR Mombasa
Black annealed $740 CFR Mombasa
Galvanized 1.00mm $1020 CFR Mombasa
Prepainted 0.25mm $1,150 CFR Mombasa
West Africa CFR (Tema, Dakar & Abidjan) Oct shipment
CR DC01 $705/MT (0.40mm to 3.00mm) - Below 0.40 $ extra applied
Black Annealed BSQH $700/MT (0.40mm to 1.45mm)
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