• Ezz Steel plans around EUR 1B investments over two years to expand output despite global trade restrictions pressure.
• CEO Ahmed Ezz said global protectionist measures have disrupted the company’s export business.
• Exports may fall below USD 1B in 2025 after reaching USD 1.6B last year, per CEO comments.

Ezz Steel

Egypt’s Ezz Steel, the country’s steel giant, plans to invest around USD 1.16 billion (EUR 1B) over the next two years to expand production capacity.

The plan comes as global protectionist policies squeeze cross-border steel flows. The company’s CEO Ahmed Ezz described the current environment as a setback for exporters.

Speaking to Asharq Business on the sidelines of the World Economic Forum meetings, Ezz said the Egyptian steel industry is experiencing pressures similar to those seen in Western markets. He further notes that those pressures were a major reason behind tariff decisions in multiple countries.

Exports Under Pressure

Ezz Steel’s exports reached about USD 1.6 billion in 2024. However, Ezz said exports in 2025 are unlikely to reach USD 1 billion.

With external markets tightening, Ezz called for a stronger push to build demand at home. He further points to construction and infrastructure as key demand drivers. He also emphasized the need for deeper Arab economic integration, suggesting that regional alignment could be more useful than relying on advanced industrial markets.

Prices and Market Sensitivity

On domestic pricing, Ezz said the company lowered steel prices in November and December 2024. However, he describes those cuts as temporary. Later, in January 2025, prices were raised again. Still, he said prices remain below November levels.

He highlights the impact of steel prices on the Egyptian market, comparing it to food commodity prices. That is because a large share of purchases comes from individuals, making price changes widely felt across the market. Meanwhile, large projects are less affected because their budgets absorb price swings more easily.