Production and sales of rebar in Egypt declined and its prices rose

According to data collected from the Arab Iron and Steel Union, Egypt’s production of rebar in 2023 declined by 4.1% compared to production in 2022, reaching 8.045 million tons, as the first half of 2023 witnessed a decline of 19.6% compared to the same period in 2022, while the second half witnessed an improvement. By 13.3% compared to the same period in 2022 and an improvement of 25.5% compared to the first half of 2023.

Production of rebar in Egypt (thousand tons) in January-December 2022-2023

While Egypt’s sales of rebar in the year 2023 amounted to about 6.532 million tons, a decline of 17.5% compared to the same period last year, in which sales amounted to 7.917 million tons as a result of a decline in demand due to high inflation, as the first half of this year witnessed a noticeable decline in the volume of sales amounting to 28.3%, with a relative improvement in sales for the second half of 2023, amounting to 33.6%, but a decline of 7.1% compared to the same period in the second half of 2022.

Rebar sales in Egypt (thousand tons) in January – December 2022-2023

The average price of rebar in the year 2023 was about 32,498 pounds ($1,054), an increase of 78.8% (12.2% in relation to the value of the dollar) compared to the average price in the year 2022. The increase in prices in 2023 in local currency compared to the year 2022 is due to the increase in the dollar exchange rate in Egypt from 15.70 to 30.90 in 2023.

Average prices of rebar in Egypt (pounds/ton) in  January – December 2022-2023

Average prices of rebar in Egypt ($/ton) in January – December 2022-2023