Egypt’s rebar consumption increased to 3.059 million tons in H1 2024, up 9%, as a result of the shift in monetary policy that increased the availability of the dollar and stimulated increased construction activity. However, the consumption level is still much lower than the level that prevailed 8 years ago in 2016, which amounted to 8.6 million tons, according to a report by Ezz Steel.

According to the report, local consumption of flat steel (HRC) decreased to 668 thousand tons in H1 2024 compared to 589 thousand tons in the same period last year, down 12%, primarily due to the slowdown in infrastructure projects. However, the report expected flat steel consumption to gradually increase, after the growth in rebar consumption, which leads the overall upward trend in steel.

At the export level, Egypt’s rebar exports decreased by 13% in the first half of 2024 to reach 656 thousand tons compared to 754 thousand tons during the same period last year, driven by lower export prices.

According to the report, Ezz Steel achieved export sales of EGP 822 million in the first half of 2024, with flat steel (HRC) exports amounting to $544 million, representing 66.2% of the total, and rebar exports amounting to $278 million, representing 33.8% of total sales, compared to exports worth $794 million during the first half of 2023, divided between rebar at $284 million and flat steel at $509 million.