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Supported by the global price rise of finished steel and raw materials, Egypt's domestic steel consumption improved significantly in December. However, the forecast for January is mainly negative.
According to local sources, the strong global price rising trend in the fourth quarter of last year helped Egyptian steel plants make up for the sluggish sales in the first two quarters. In December alone, the local steel consumption in Egypt increased by 18.5% month on month and 24.3% year on year, reaching 816000 tons.
Overall, according to local sources, the total volume of rebar sales in 2020 is 6.85 million tons, compared with 7.42 million tons in 2019. This decline is the result of restrictions and suspension of building permits associated with covid-19.
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- [Editor:Catherine Ren]
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