In his speech made before the General Assembly of the Arab Iron and Steel Union (AISU) held at Sharm El-Sheikh on 23 April 2008, chairman of both Ezz Steel and of AISU, Ahmad Ezz, pointed to the growth which the Arab steel industry has registered, while also touching on some of the challenges the industry faces.
Commenting on the growth in the Arab steel industry, Mr. Ezz gave the example of Egypt and its growth rate. Demand for steel products in this country in 2007 amounted to 5.5 million tons, with an increase of 15 percent compared to 2006. Meanwhile, Egypt's consumption of reinforcing steel reached 4.1 million tons in 2007, with a growth rate approaching 20 percent year on year.
Commenting on the growth seen in Egypt, Mr. Ezz declared, "What explains this boom in consumption in Egypt is the fast development in a number of economic activities at the top of which comes the construction sector which has achieved a growth rate of 16 percent, which resulted in more demand for steel products."
AISU chairman Ezz also mentioned the challenges faced by the Arab steel industry, indicating the continuous price rises caused by increasing costs as the greatest challenge facing the Arab steel industry. He said that in this situation it is important to form a united negotiating front before the world suppliers of raw materials in order to obtain the best prices.