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Egyptian Steel Industry Association: The individual sector represents 60% of steel consumption

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 Egyptian Steel Industry Association: The individual sector represents 60% of steel consumption

 

Dr. Alia El Mahdi, Chairman of the Board of Directors of the Egyptian Iron and Steel Industry Association, said that the individual sector is the most important source of steel demand in the market, as it constitutes 60% of consumption, while government demand and the real estate development sector together constitute 40% of the consumption rate, noting that the sector Individuals, which is the main source of consumption, are experiencing many restrictions related to the decision to stop construction, which has not fully returned to normal, in addition to the lack of defining the cordons of buildings in villages and cities, which affected the overall consumption rate.

In statements to Al-Aqaria, she added that Egypt’s production capacity of steel reaches 16 million tons, while the actual production of steel reaches 8 million tons, and the demand is estimated at about 5.5 million tons, noting that Egypt’s steel exports began in Recently recovered after dropping to $650 million in 2020.

 

Al-Mahdi explained that the highest rate of Egypt’s steel exports was in 2008 and reached one billion and 400 million dollars, a figure that Egypt is currently trying to return to, explaining that the annual growth rate of steel production in Egypt does not exceed 1%, while in countries with a growth rate Naturally, it grows at a rate of up to 5%, which is attributed to the high cost of production, which is one of the main factors that represent an obstacle to the growth of exports.

 

 

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