Egypt's biggest steel producer, Ezz Steel, enjoyed normal industrial operations in 2017 after several years of disturbed activity, the company said on Thursday March 29.
Firstly, Ezz Steel did not suffer any interruptions to the electricity or natural gas supplies. Secondly, the foreign currency needed for the purchase of imported raw materials was made available without limitation, company chairman and managing director Paul Chekaiban said on Thursday. Egypt suffered shortages of foreign currency and natural gas in 2016.The company continued to enjoy strong demand for locally produced rebar, thanks to the anti-dumping duties - effective starting December 6 and lasting for a period of five years - applied to rebar imports from China, Turkey and Ukraine. "We benefited from a favorable market environment. The sustained recovery in the international...