Egypt’s largest steel producer, Ezz Steel, announced plans to invest approximately EUR 1 billion over the next two years to expand production capacity, despite growing pressure on exports from rising global protectionist trade policies.
Speaking to Asharq Business on the sidelines of the World Economic Forum meetings, CEO Ahmed Ezz said that Egypt’s steel industry is facing pressures similar to those previously experienced by Western markets. He noted that these pressures were among the main drivers behind the imposition of steel tariffs in many countries.
Exports under pressure
According to Ezz, one of the sector’s biggest challenges is the unfair competitive environment created by state-backed Chinese steel producers. He explained that this advantage cannot be attributed solely to production efficiency, but rather to government support mechanisms. He added that global protectionist measures have significantly constrained the company’s operations in external markets.
With external markets tightening, Ezz stressed that strengthening domestic demand is becoming increasingly critical. He pointed to housing and infrastructure projects as key drivers of steel demand, and called for deeper economic integration among Arab countries, arguing that regional cooperation would offer a more sustainable alternative than reliance on advanced industrial economies.
Commenting on domestic pricing, Ahmed Ezz said the company implemented temporary price reductions in November and December 2024, followed by price increases in January 2025. However, he noted that prices remain below November levels.
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