Egypt is Africa’s largest steel producer
International rating agency Fitch released a report on April 4 that Egypt is the largest steel producer in Africa and the second largest steel producer in the Middle East and North Africa region. Egypt’s steel production capacity remains stable, reaching 9.8 million tons in 2022. Over the next decade, Egyptian steel production is expected to grow at an average annual rate of 1.5%, and mining exports will increase to $10 billion per year by 2040. The metals and mining industry in countries in the Middle East and North Africa region will also accelerate in the next decade.
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