Egypt’s steel rebar production surges 37% in H1-24

Conares / Handout via Zawya

The production growth was backed by the availability of the dollar currency and companies' tendency to export

Staff Writer, Mubasher

PHOTO

Egypt’s production of steel rebar hiked by 37% year-on-year (YoY) to 4.15 million tonnes in the first half (H1) of 2024.

The production growth was backed by the availability of the dollar currency and companies' tendency to export, according to official data reviewed by Economy of the East with Bloomberg.

The number of rebar factories in the Arab Republic stands at 14, including Ezz Steel, Beshay Steel, Suez Steel, and Egyptian Steel.

In the first quarter (Q1) of 2024, Ezz Steel turned to a consolidated net profit after tax valued at EGP 1.26 billion, against net losses of EGP 2.48 billion in Q1-23.

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