The Egyptian steel industry witnessed an improvement in the rate of crude steel production by 6% in the first nine months of this year to 7.9 million tons, accompanied by a significant increase in the production of rebar by 11% compared to the same period last year to 6.4 million. The increase in sales was not the same as the increase in production, as local sales increased by only 3% to 4.7 million tons, as companies turned to exporting to provide foreign currency to provide production requirements. As for the level of rebar prices, they witnessed a significant increase from an average price of Egp 31,599 in the first nine months of last year to an average price of Egp 42,388 in the same period this year, an increase of 34% due to the decline in the price of the pound, which decreased by 55%.
Crude Steel Production Jan-Sep 2024
Month | 2024 | 2023 | Change |
Jan | 980.0 | 811.7 | 21% |
Feb | 839.8 | 705.0 | 19% |
Mar | 870.2 | 827.6 | 5% |
Apr | 895.9 | 736.4 | 22% |
May | 894.7 | 873.4 | 2% |
Jun | 743.3 | 825.3 | -10% |
Jul | 959.2 | 855.0 | 12% |
Aug | 897.5 | 999.7 | -10% |
Sep | 866.6 | 831.1 | 4% |
Total | 7,947 | 7,465 | 6% |
Rebar Production Jan-Sep 2024
Month | 2024 | 2023 | Change |
Jan | 803 | 660 | 22% |
Feb | 669 | 534 | 25% |
Mar | 696 | 549 | 27% |
Apr | 819 | 474 | 73% |
May | 629 | 754 | -17% |
Jun | 545 | 597 | -9% |
Jul | 919 | 623 | 48% |
Aug | 689 | 890 | -23% |
Sep | 640 | 673 | -5% |
Total | 6,408 | 5,753 | 11% |
Rebar Sales in Egypt Jan - Sep 2024
Month | 2024 | 2023 | Change |
Jan | 711 | 547 | 30% |
Feb | 488 | 435 | 12% |
Mar | 351 | 448 | -22% |
Apr | 579 | 338 | 72% |
May | 481 | 623 | -23% |
Jun | 449 | 405 | 11% |
Jul | 719 | 440 | 63% |
Aug | 523 | 843 | -38% |
Sep | 456 | 537 | -15% |
Total | 4,757 | 4,615 | 3% |
Rebar Prices in Egypt January - September 2024
Month | 2024 | 2023 | Change |
Jan | 43,469 | 25,041 | 74% |
Feb | 50,939 | 27,154 | 88% |
Mar | 45,851 | 28,838 | 59% |
Apr | 40,921 | 33,832 | 21% |
May | 39,941 | 35,341 | 13% |
Jun | 39,740 | 34,725 | 14% |
Jul | 40,257 | 34,209 | 18% |
Aug | 40,237 | 32,484 | 24% |
Sep | 40,135 | 32,771 | 22% |
Average | 42,388 | 31,599 | 34% |