4 Days
Source:
المصري اليوم
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EU export limits and steel prices
Rebar prices in the Egyptian market are facing significant risks following the European Union's decision to restrict the export of scrap metal to Egypt, which relies on the EU for about 85% of its imported scrap needs. The new regulations are set to come into effect in May 2027, but manufacturers warn that this will lead to increased costs and impact prices, especially given the difficulty in securing affordable alternatives. This restriction could raise production costs and reduce the competitiveness of Egyptian exports. It is also expected that the demand for local scrap will rise from around 4 to 5.5 million tons annually, although the domestic market supplies only one million tons, deepening the gap between demand and production. With some countries slowing their exports and the costs of alternatives rising, pressure on steel prices in Egypt is intensifying, threatening the sustainability of local production.
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