2013-12-02 13:59:00 - Recently published research from Business Monitor International, "Egypt Metals Report Q1 2014", is now available at Fast Market Research
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 expect the worsening political situation to weigh on growth.
We remain positive on the effects of Egypt's transition towards a democratic government, as investors will begin to look more favourably towards the country as a potential market to work with. We have seen these positive effects on the country are already beginning to show. For 2013, BMI forecasts steady Egyptian steel production growth on the back of greater investment in expanding production capacity and
more stability in the country following the 2012 presidential elections, as well as greater investment pouring in from Gulf countries looking diversify their regional portfolios.
Full Report Details at
In addition to more favourable market dynamics, BMI's forecast for 2013 is supported by Elmarakby Steel's plans to open its first meltshop producing steel billets from scrap by end-2013. The 350,000tpa EAF in Giza will feed an existing 240,000tpa rolling mill, with the remainder exported or sold on the domestic market. The country has been operating well under full capacity, with a utilisation rate under its 8.8mntpa potential. Even without further capacity expansion, Egypt has the potential to grow by up to 30% from 2010 levels, using plants that are currently in operation. That said, our expectation for continued political and economic upheaval will weigh on growth.
Report Table of Contents:
BMI Industry View
- Political Uncertainties To Weigh On Growth
- Metals SWOT
- Steel: Need For Imports To Fill The Deficit
- Table: Egypt - Steel Production & Consumption ('000 tonnes, unless stated)
- Table: Egypt - Steel Production Historical Data ('000 tonnes, unless stated)
- Restrictive Regulatory Environment
- Tax Regime
- Corruption: A Key Concern
- Table: Egypt - Political Overview
- Steel Price Forecast
- Table: BMI Steel Forecast
- Table: Steel Forecast
- Commodities Forecast
- Iron Ore: Rally To Fade In Q413
- Steel: Supply Glut To Endure
- Aluminium: Surge Gives Way
- Copper: Weak Outlook
- Lead: Short-Term Weakness
- Nickel: Still The Laggard
- Zinc: Still A Surplus Market
- Table: Select Commodities - Performance And BMI Forecasts
- Table: Global Commodities Strategy
- Ezz Steel To Remain Dominant
- Table: Ezz Steel Facilities
- Ezz Steel
- Table: Ezz Steel - Financial Data
- Cross Checks
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
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