Steel sector in Morocco managed to achieve strong results last year despite many challenges and the unfavourable global geopolitical situation due to the Russian-Ukrainian war, large fluctuations in prices and supply chains interruption.

Steel industry benefited from the commercial activity recovery after controlling the Coronavirus pandemic and the increase in demand as of huge investments in infrastructure and some export achievements.

In 2022, the country’s major steelmakers, including Sonasid, Riva Industries, and Moroccan Steel, produced more than 2 million tonnes of various products, from rebar, wire coils, and flats, according to the Moroccan Steel Producers Association (ASM).

Production rose by 26% year on year due to the continued recovery in demand after the pandemic challenges and price recovery.

Specifically, industry revenue increased by 11% over the year and amounted to 16.8 billion dirhams (nearly $1.7 billion).

The figures for the fourth quarter contributed significantly to the positive dynamics, as production increased by 121% and 40% compared to the fourth quarter of 2021 and the third quarter of 2022, reaching 633,195 tonnes, which is the most considerable production volume in the past two years.

dollar = 10.02 dirhams1