Speaking on the Egypt panel, Saleh said Egypt’s steel sector has suffered from low consumption this year because of the Covid-19 pandemic, liquidity shortage, and the construction ban in the country since May.
“2020 was challenging due to Covid-19, liquidity issues and the building permit ban, and if the ban continues, 2021 will be a challenging year as well,” Saleh said.
The rules of the ban were eased on September 29
, but demand has not yet fully recovered because of the remaining restrictions on construction activity. Contractors and real estate developers are now permitted to resume construction on buildings up to four-stories high, Fastmarkets understands.