EGYPT'S STEEL SECTOR IMPACTED BY NEW ROUND OF POUND DEVALUATION

摘要

Despite Egypt's attempts to stabilize the currency situation, the pound rate fell sharply again, thus putting pressure on the country's steel sector due to impact on import prices for raw materials, semis and finished steel. Moreover, Egypt's mills continue to operate in the challenging market conditions and are forced to raise rebar prices in pounds to offset exchange fluctuations.