Egypt's steel rebar consumption could fall to 3 million tonnes per year in 2021 if restrictions on construction are not eased further, Ramy Saleh, chief business development officer at El Marakby Steel said during Fastmarkets' Middle East Iron and Steel virtual conference on Thursday December 17.
Speaking on the Egypt panel, Saleh said Egypt's steel sector has suffered from low consumption this year because of the Covid-19 pandemic, liquidity shortage, and the construction ban in the country since May.Egypt is building a new capital and has several infrastructure and building projects. Yet about 80% of long steel consumed in...