Egypt’s steel rebar production up 11.3% YoY in 9 months

Updated 11/5/2024 9:54:00 AM
Egypt’s steel rebar production up 11.3% YoY in 9 months

Arab Finance: Egypt’s production of steel rebar rose by 11.3% year on year (YoY) to 6.403 million tons in the first nine months of 2024, Asharq Business reported, citing official data.

The surge in production was driven by the availability of US dollar liquidity, the data showed.

Moreover, the data revealed that steel rebar sales in the local market went up by 3% YoY in the January-September period of the year to 4.756 million tons.

This was ascribed to the availability of US dollar liquidity and expansion of infrastructure and real estate projects, a government official said.

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