Sources in the iron and steel industry in Egypt said that the country’s steel production in the first 10 months of this year approached 9 million tons, an increase of 5% year-on-year compared to the production of the corresponding period last year, according to “Al Arabiya Business”.

The sources added that the quantities of steel produced in the specified period were distributed as follows: 7.5 million tons of reinforcing steel, with a growth rate of 10%, while approximately 1.4 million tons of flat steel were produced.

They explained that the local market consumed approximately 5 million tons of reinforcing steel in the first 10 months of this year, with a growth rate of only 2%.

The sources indicated that factories are anticipating a positive impact on sales as a result of activating new construction procedures and increasing the operational capacities of production lines.

Last September, the government announced the abandonment of procedural restrictions on building permits for individuals that had been in place since 2021, and the return to working with the provisions of Building Law 119 of 2008 and its executive regulations with the aim of easing the burden on citizens in building permit procedures.