Egypt: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Egypt

In 2023, the Egyptian market for hot-rolled steel bars and rods decreased by X% to less than $X, falling for the second year in a row after two years of growth. Overall, consumption, however, posted noticeable growth. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Hot-Rolled Steel Bars and Rods in Egypt

In value terms, hot-rolled steel bar and rod production contracted rapidly to less than $X in 2023 estimated in export price. Overall, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

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Exports of Hot-Rolled Steel Bars and Rods

Exports from Egypt

In 2023, shipments abroad of hot-rolled steel bars and rods increased by X% to X tons, rising for the third year in a row after three years of decline. In general, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod exports skyrocketed to $X in 2023. Over the period under review, exports saw strong growth. The pace of growth was the most pronounced in 2016 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Romania (X tons) and Turkey (X tons) were the main destinations of hot-rolled steel bar and rod exports from Egypt, with a combined X% share of total exports. Lebanon, Bulgaria, Cyprus, Palestine, Saudi Arabia, Lithuania, Brazil, Spain, Algeria and Morocco lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Lithuania (with a CAGR of X.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel bar and rod exported from Egypt were the United States ($X), Romania ($X) and Turkey ($X), with a combined X% share of total exports. Lebanon, Bulgaria, Saudi Arabia, Cyprus, Brazil, Lithuania, Palestine, Spain, Algeria and Morocco lagged somewhat behind, together comprising a further X%.

Lithuania, with a CAGR of X.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021; however, from 2022 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per ton) and Romania ($X per ton), while the average price for exports to Morocco ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Palestine (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Egypt

In 2023, after two years of decline, there was significant growth in overseas purchases of hot-rolled steel bars and rods, when their volume increased by X% to X tons. Overall, imports, however, saw a deep reduction. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod imports skyrocketed to $X in 2023. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Russia (X tons) constituted the largest hot-rolled steel bar and rod supplier to Egypt, with a X% share of total imports. Moreover, hot-rolled steel bar and rod imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Russia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Turkey (X% per year).

In value terms, Russia ($X), China ($X) and Turkey ($X) constituted the largest hot-rolled steel bar and rod suppliers to Egypt, with a combined X% share of total imports.

Russia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average import price for hot-rolled steel bars and rods amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belarus (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform