Egypt - Egyptian Iron and Steel Company - Egyptian Iron & Steel Co. exceeds 500,000t in sales volume for 2009

06/09/2010

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<= Turkey - World - Turkish steel export value in July drops by 18pct MoM <= Egypt - Ezz Steel - Ezzsteel: Rebar price increase by US$62 per ton as of September 2010 <= Bahrain - Sulb national company - Phase I of "SULB" iron & steel complex is underway <= China - China Federation of logistics & Purchasing - Steel inventory down to 81 million tonnes <= Iraq - Mass Global Investment - New one million tpy steel plant to be built

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Egyptian Iron & Steel Co. exceeds 500,000t in sales volume for 2009

Last Update: 07/02/2010 13:09:14
ArabSteel – Sales volume of Egyptian Iron & Steel Co. exceeded 553,000t in 2009 of long and flat products. Sales of flat products consist more than 50% of the overall sales, whereas sales of long products are concentrated mainly on sections which constitute approximately 28% of the overall sales of Egyptian Iron & Steel Co. which is considered the largest producer of sections in the Egyptian market, according to information «Arab Steel» got form company sources.
Most of the sales are directed to the local market drawing 87.5% of the overall sales versus 12.5% for export markets being mainly Arab and some European countries in 2009.
The fall in selling quotes in 2009 by 35% for flats and 30% for longs –on the level of the company's sales in 2009 compared to 2008– resulted in a decline in the profitability of the company along with more than 34% fall in crude steel production, 31.5% in finished products and flats in particular declining 37.5% in 2009 when compared to 2008.
For 2010, the company intends to reach the production levels of 2008, planning to produce 850,000t of crude steel. Furthermore, among projects intended to be carried out during this year through 2012, the company started to execute the building of new oxygen plant projected to become operational in 2012, in addition to completing an overhaul for blast furnace no. 2 and establishing an integrated information system.

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