BMI View: We forecast modest growth in the Egyptian steel sector over the coming years, in line with our outlook for the wider economy. We examine the influence of the weak Egyptian pound on the sector and whether depreciation is sufficient to compete in an over-supplied regional market. We also evaluate the promise of expansion in primary aluminium smelting, with Egyptalum seeking to expand production to 400,000 tonnes per annum (tpa). This report also analyses trends in export markets, particularly in relation to the surge in steelmaking in the Arabian Gulf region. We remain positive on the effects of Egypt’s …
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