Egypt's biggest steel producer, Ezz Steel, enjoyed strong local demand in the first half of 2018 and recorded a 164% increase in consolidated earnings before interest, taxes, depreciation and amortization (Ebitda), the company said on Thursday September 6.
Egypt imposed anti-dumping duties on rebar imports from China, Turkey and Ukraine for a period of five years with effect from December 2017, and this helped local demand to improve over January-June this year.However, Egypt has been importing rebar from Saudi Arabia since June."In line with the trend we saw in the first quarter of 2018, Ezz Steel repeated its operational performance in the second quarter of the year, leading to the consolidation of a stable recovery," chairman and managing director Paul Chekaiban said."Year-on-year, we substantially increased our global turnover through the combined effect of...