Steel producers in Egypt will benefit from higher steel demand and low rates of imports in 2019, George Matta, chief marketing officer of Ezz Steel, said at Fastmarkets' North Africa Steel Summit in Dubai in December.
Egypt is the largest steel-consuming country in the North Africa region and, in the long term, the share of its steel consumption that is supplied by imported steel products may start to grow again when additional demand appears in the country."We expect that local producers will be able to benefit more from local and regional demand growth, and to increase the capacity utilization at their existing facilities," Matta said.Steel consumption in North Africa will hit 23.8 million tonnes in 2019, from an estimated 22.8 million tonnes in 2018, Ezz Steel forecast.Meanwhile, the World Steel Association (Worldsteel) expects that...