Fall and Rise in African steel Market (2024)
Ephraim N.
??Sales & Marketing Professional | 10+ Years of Experience ??Expertise in Business Development and Marketing Strategy ??Specialist in the Iron & Steel Industry ??Proven Sales Growth Expert ??Skilled in CRM and Leadership
The African steel market is currently experiencing mixed trends across different regions. In South Africa, crude steel production continues to face challenges, with a decline of 9.8% in May 2024 compared to the previous year. The first half of 2024 saw a 2% reduction in total production, raising concerns about the industry's future. There is a call for acceleration in infrastructure projects to boost domestic demand and support the struggling steel sector.On the other hand, Egypt remains the largest steel producer on the continent, with robust growth in crude steel output. The country recorded significant increases in production, driven primarily by exports to Europe and North America. In the first four months of 2024, Egypt's crude steel production saw a 6.6% growth compared to the same period in 2023.This contrasting performance between South Africa and Egypt highlights regional disparities within the African steel market, with demand heavily influenced by local infrastructure projects and international trade dynamics.
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