Egypt’s steel output slips 17.6%

Egypt’s steel output slips 17.6% 

By Ahmed Kamel

Egypt’s crude steel output fell by 17.6 per cent to 600,000 tons in April due to lower demand on the local market. The nation’s steel production totaled 2.8 million tons on the period January-April, down 0.6 per cent compared to the same period a year earlier. 

The decline has been a result of ongoing difficulties on the back of the COVID-19 pandemic.

Egypt's steel output is expected to decline in the coming months due to suspension of building licenses for six months.

The Ministry of Local Development has started implementation of a government’s decree halting issuance of all permits for any construction works for private housing for six months in the governorates of Greater Cairo (Cairo, Giza and Qaliubiya) and Alexandria, in addition to major cities in all governorates nationwide.

The local decline in steel production reflected a global trend with the coronavirus pandemic impacting the world economy.