DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/908f5f/egypt_metals_repor) has announced the addition of the "Egypt Metals Report Q3 2011" report to their offering.
Business Monitor International's Egypt Metals Report provides industry professionals and strategists, corporate analysts, metals associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Egypt's metals industry.
The Egyptian steel industry is recovering slowly from the unrest that hit the country in early 2011, but has weathered the storm far better than neighbouring Libya where steel output has collapsed. Egypt could overtake South Africa as Africa's leading steelmaker.
In the first four months of 2011, Egyptian crude steel production grew 6.6% y-o-y to 2.1mn tonnes. This follows 21.1% growth to 6.57mn tonnes in 2010, assisted by export growth of 77% to around 963,000 tonnes and 18% growth in domestic finished steel consumption to 8.37mn tonnes. However, compared with the previous four months, output was down 9.8%, hampered to some extent by civil unrest that began in January and its impact on the steel markets, production and logistics. At the same time, spot prices for steel products grew sharply as a result of the turmoil in Egypt, with construction steel reaching US$640/tonne in Jeddah, indicating Egypt's importance to regional steel markets.
While BMI anticipates a recovery over the rest of 2011, the early poor performance will ensure that output grows just 2% to 6.70mn tonnes. Sustained political stability will be crucial to the operation of the domestic steel industry as well as maintaining a market for output. Any strike action or curfew would pose further setbacks that could undermine the Egyptian steel industry's ability to repeat the strong performance of Q410. The disruptions to production and lower output growth levels are accompanied by a downward revision in BMI's GDP growth forecast from 5.1% to 3.2%. While the devaluation of the Egyptian pound meant that imports fell drastically, the resumption of port operations meant exports were quickly returning to normal, helping to restore sales.
Key Topics Covered:
SWOT Analysis
Global Market Overview
Commodities Forecast
Commodity Strategy - Metals Update
Forecast Scenario
Competitive Landscape
Company Profiles
Global Assumptions, Q311
Methodology
For more information visit http://www.researchandmarkets.com/research/908f5f/egypt_metals_repor