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.

BMI Industry View 5

Political Uncertainties To Weigh On Growth 5

SWOT 7

Metals SWOT 7

Industry Forecast 9

Steel: Need For Imports To Fill The Deficit 9

      Table: Egypt - Steel Production & Consumption ('000 tonnes, unless stated) 12

      Table: Egypt - Steel Production Historical Data ('000 tonnes, unless stated) 13

Regulatory Development 14

Restrictive Regulatory Environment 14

Tax Regime 14

Corruption: A Key Concern 14

      Table: Egypt - Political Overview 15

Commodities Forecast 17

Steel Price Forecast 17

      Table: BMI Steel Forecast 17

      Table: Steel Forecast 25

Commodities Forecast 26

Iron Ore: Rally To Fade In Q413 27

Steel: Supply Glut To Endure 28

Aluminium: Surge Gives Way 29

Copper: Weak Outlook 30

Lead: Short-Term Weakness 31

Nickel: Still The Laggard 32

Zinc: Still A Surplus Market 35

      Table: Select Commodities - Performance And BMI Forecasts 36

      Table: Global Commodities Strategy 37

Competitive Landscape 38

Ezz Steel To Remain Dominant 38

      Table: Ezz Steel Facilities 38

Company Profile 40

Ezz Steel 40

      Table: Ezz Steel - Financial Data 42

Methodology 43

Cross Checks 43

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