Weaker pound double-edged sword for Egyptian steel industry

摘要

A long awaited decrease of the Egyptian pound value has become a good sign for foreign investors and marketanalysts as it brings long-term gains to the country’s economy, and its steel sector in particular. Nevertheless, theshort-term effect of the Central Bank of Egypt (CBE) decision will be quite painful due to costlier steel imports, MetalExpert heard from market insiders.