Egypt: Iron And Steel Market 2024

Iron And Steel Market Size in Egypt

In 2021, the Egyptian iron and steel market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a mild decrease. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Iron And Steel Production in Egypt

In value terms, iron and steel production expanded slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Iron And Steel Exports

Exports from Egypt

In 2021, shipments abroad of iron and steel decreased by -42% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 196% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports contracted significantly to $X in 2021. In general, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 when exports increased by 317% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for iron and steel exports from Egypt, accounting for a 95% share of total exports. It was followed by Jordan (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+23.4% per year) and Sudan (-0.2% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for iron and steel exports from Egypt, comprising 95% of total exports. The second position in the ranking was held by Jordan ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia amounted to -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+12.4% per year) and Sudan (-13.6% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, leveling off at the previous year. Overall, the export price, however, showed a mild setback. The pace of growth was the most pronounced in 2018 when the average export price increased by 41% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+70.4%), while the prices for the other major destinations experienced mixed trend patterns.

Iron And Steel Imports

Imports into Egypt

In 2021, purchases abroad of iron and steel decreased by -61.5% to X tons, falling for the third consecutive year after four years of growth. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 1,146% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, iron and steel imports contracted remarkably to $X in 2021. In general, imports saw a mild setback. The pace of growth was the most pronounced in 2018 when imports increased by 360% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest supplier of iron and steel to Egypt, accounting for a 87% share of total imports. Moreover, iron and steel imports from Ukraine exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by the UK (X tons), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from Ukraine amounted to +71.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.4% per year) and the UK (+9.3% per year).

In value terms, Ukraine ($X) constituted the largest supplier of iron and steel to Egypt, comprising 60% of total imports. The second position in the ranking was held by Tunisia ($X), with a 23% share of total imports. It was followed by Germany, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from Ukraine amounted to +73.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (+1.3% per year) and Germany (-7.4% per year).

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, rising by 13% against the previous year. Over the period under review, the import price showed temperate growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 274%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+45.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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