Steel exports drop 13pct in Jan-Oct 2024 YoY

Egypt's iron and steel exports declined by 13pct YoY (YoY) from January to October 2024, totaling USD 1.695 bln, down from USD 1.942 bln in the same period last year.

A report by the Export Council for Building Materials, Refractory, and Metallurgy Industries revealed that Egyptian steel products reached 83 countries during this period.

Turkey remained the top destination for Egyptian steel exports, accounting for USD 190.5 mln, although this marked an 18pct drop compared to the previous year. Other significant markets included Spain (USD 187.5 mln), Italy (USD 154.7 mln), the USA (USD 108.2 mln), and Romania (USD 95.6 mln).