Ashry Steel, one of the largest re-rollers in Egypt, has recently commissioned its new 500,000 mt per year rolling line project, producing the first rebar on October 1. Currently, the rolling line is undergoing some tests with commercial production scheduled to begin shortly. Ashry Steel plans to produce over 300,000 mt of rebar in 2020 with a further increase in 2021, the company’s representative noted.
As a result, Egypt will have an additional rebar capacity, translating to a new square billet requirement depending on utilization rates. “We will be consuming around 80,000 mt [per month] of billet for full capacity,” a company’s source said. In its turn, the situation in the Egypt’s billet market will largely depend on the Egyptian authorities’ decision on the import billet safeguard duty, due to be announced by October 15.