According to data from Ezz Steel Company for the Egyptian Stock Exchange, The volume of domestic consumption of reinforcing steel increased in 2021 to reach 7,344 million tons, an increase of 7% over 2020, which recorded 6.865 million tons. The fourth quarter of last year achieved the highest consumption level by 27% over the third quarter of the same year. This increase came as a result of the continued strong presence of national projects, especially a decent life project to develop more than 4,700 villages, which contributed to an increase in demand, and at the same time, the pace of growth in private construction increased.
As for flat steel, the domestic consumption of flat steel decreased to 1,421 million tons in 2021 compared to 1,563 million tons in 2020, but it is still higher than what was achieved in recent years, which was around 1.2 million tons annually. Ezz Steel’s market share increased from 676,000 tons in 2020, to 906,000 tons in 2021 due to some imports substitution. In addition, given that the domestic consumption is much less than the production of flat steel for Ezz Steel, the company continues to balance its commitment as a major supplier to the local market with its role as a leading source.
Global steel production rose to 1,911 million tons in 2021, an increase of 1.8% from 2020, due to China taking stricter environmental measures and imposing credit restrictions on the real estate sector, and the global production volume in the second half of 2021 amounted to about 909 million tons less of in the first half (1,002 million tons).