Egypt’s construction materials market witnessed mixed price movements on Sunday, October 19th, according to the latest update from the Cabinet’s Local Price Portal.

Misr National Steel – Ataqa (ATQA) witnessed a block-trading transaction worth EGP 1.902 billion.

The Trade Remedies Sector at the Ministry of Investment and Foreign Trade held a public hearing for all stakeholders to investigate safeguard measures on hot-rolled steel flat imports.

The Egyptian government has developed a comprehensive strategy to advance the country’s iron and steel industry over the upcoming 10 years, Prime Minister Mostafa Madbouly announced.

Minister of Investment and Foreign Trade Hassan El-Khatib issued three ministerial decisions imposing temporary safeguard tariffs on certain steel products, effective from September 14th.

The US International Trade Commission announced a preliminary anti-dumping and countervailing duty investigation into imports of steel concrete reinforcing bars from Egypt, Algeria, Bulgaria, and Vietnam.

The Chairman of the Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, has witnessed the signing of a contract for the Masoud Steel metal containers project in the Sokhna Industrial Zone.

A delegation from the Ministry of Investment will meet with representatives from the European Union (EU) to discuss the recently announced decision by the European Commission to temporarily impose 15.6% anti-dumping duties on Egyptian steel exports.

An Egyptian-Qatari investment alliance is studying the establishment of an iron and steel factory in Qena Governorate with initial investments of up to $100 million.

Saudi Arabia’s Zamil Steel is eyeing expanding its production operations in Egypt in terms of the types and quantities of iron produced, with potential plans for expansion into additional markets.

Egypt’s production of steel rebar rose by 11.3% year on year (YoY) to 6.403 million tons in the first nine months of 2024.

The Egyptian cabinet has approved the president's directive to allocate approximately 385 feddans in the Suez Governorate for the establishment of the Suez Steel Company to advance Egypt's steel industry.

Egypt’s production of steel rebar rose by 24.3% year on year (YoY) to 2.166 million tons in the first quarter of (Q1) of 2024 on the back of decreasing prices.

The Egyptian government is considering a proposal submitted by an Italian firm to establish an integrated industrial park for iron and steel, with investment of $4 billion.

The Egyptian government is considering canceling dumping duties levied on rebar steel imports to enable real estate firms and developers to meet their needs of rebar steel of which current prices reached EGP 50,000 per ton.

The price of rebar steel ex-works (EXW) in Egypt jumped by 78% year on year (YoY) in January, hitting EGP 48,000 per tons, given the foreign currency shortfall and the significant drop in the factories’ production capacity.

Egypt’s iron and steel industry has played a vital role in the country's economic development, serving as a key sector for industrial growth and employment. The industry has a long history dating back to almost a century, as the first iron company was established in 1936, followed by other companies in 1947. After that, the Egyptian Iron and Steel Company was established, followed by private sector firms. Egypt's steel industry has seen significant transformations over the years. Despite challenges, the Egyptian government has been working on supporting the steel industry in order to meet demand and remain competitive regionally.

The Egyptian government is considering issuing licenses to investors for the production of rebar and flat steel in the coming year for the first time since 2021.