Egypt’s El Marakby Steel aims for 100,000 tons increase in H1 exports
Time:Wed, 04 Jun 2025 09:16:14 +0800
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El Marakby Steel, an Egyptian manufacturer of rebar and wire rods, significantly exceeded its export targets in the first four months of 2025, with a 50% increase compared to the previous year, surpassing initial expectations of a 20% rise, according to CEO Hassan El Marakby. The company also aims for 100,000 tons in exports for the first half of the year.
The strong export performance contrasts with a softened local rebar market, experiencing stable prices and reduced demand due to declining construction activity and the holiday season.
Despite increased scrap costs, rebar prices remain unaffected.
In 2024, Egypt's iron exports, including coils and bars, had a year-on-year increase of 1.5%, reaching around 1.73 million tons, while rebar production and sales also rose by 12.3% and 6% year on year, respectively, supported by improved access to foreign currency for raw material acquisition.
