Engineer Khaled Hashem, Minister of Industry, and Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held two extensive meetings with representatives of integrated, semi-integrated, and re-rolling mills to discuss the challenges facing companies due to global conditions.
During the meeting, the Minister of Industry revealed that monitoring market conditions and the availability of billets at appropriate prices falls under the mandate of the permanent committee. The committee comprises representatives from the Ministries of Industry, Investment and Foreign Trade, Supply and Internal Trade, and the Egyptian Competition Authority (ECA) to ensure the stability and regularity of supply chains.
Hashem emphasized the necessity for all companies to adhere to submitting the required data and documents to enable the committee to evaluate the impact of applying measures and assess the situation in light of market developments.
The first meeting witnessed the participation of representatives from re-rolling mills, including El Ahshery Steel, El Garhy Steel Group, El Medina Steel, Metad Helwan, El Ola, and Medi Steel. Meanwhile, representatives of integrated and semi-integrated mills participated in the second meeting, including Suez Steel Group, Egyptian Steel, Ezz Steel Group, Beshay Steel Group, and El Marakby Group.
Both meetings addressed the challenges facing re-rolling mills in securing their billet requirements and the availability of the required quantities, grades, and technical specifications. This was alongside reviewing the production and sales status of billet-producing mills and discussing ways to enhance integration across various stages of the iron and steel industry.
Hashem: Our Goal is the Success of All Operating Factories in Egypt, Protecting Their Interests, and Deepening Local Industry
The Minister of Industry affirmed that the Ministry's primary objective is to ensure the success of all operating factories in Egypt, protect their interests, and foster industrial growth. At the same time, it aims to achieve the state's targets and the Ministry's vision of deepening local industry by focusing on feeding industries and securing production inputs.
The Iron and Steel Industry is One of the Key Target Industries in the Ministry of Industry's 2030 Strategy
He pointed out that the iron and steel industry is one of the key target industries in the Ministry's 2030 Strategy, as it is a strategic sector upon which numerous basic industries depend.
He explained that the Ministry offered new licenses for billet production with facilitated pricing and payment terms to encourage re-rolling mills to expand into smelting and manufacturing activities, deepen local industry, and increase added value, thereby contributing to enhancing production capacities and reducing reliance on imports.
Companies Awarded New Licenses for Billet Production Must Take Rapid Steps Toward Production and Operation
He stressed the necessity for companies awarded new licenses for billet production to take swift steps toward production and operation to deepen the industry and reduce billet imports.
Dr. Farid: We Monitor Billet Market Conditions to Ensure Stability, Balance, and Availability to Guarantee the Continuity of Local Supply Chains
Meanwhile, Dr. Mohamed Farid, Minister of Investment and Foreign Trade, emphasized that the Ministry continuously monitors billet market conditions to verify stability, balance, and availability. This guarantees the regular continuity of local supply chains for all parties, with appropriate quantities, technical specifications, and competitive prices. Furthermore, the Ministry continues to examine complaints and observations submitted by companies based on actual data, documents, and the results of field verification visits to ensure a accurate understanding of real market conditions and address any obstacles that may impact the regularity of the production process.
Mandatory Commitment to Providing Necessary Billets for Production and Operation in Required Quantities, Grades, and Technical Specifications
Dr. Farid stressed the necessity of adhering to providing the necessary billets for production and operation within the limits specified by industrial licenses at full production capacities, in the required quantities, grades, and technical specifications. This ensures the regularity of supply chains and the continued operation of factories, emphasizing the importance of enhancing cooperation among various industry stakeholders to achieve stability in the local market.
These meetings come within the framework of following up on the implementation of Decree No. 121 of 2026, imposing definitive safeguard measures on steel products, pursuant to the provisions of Law No. 161 of 1998 on the Protection of the National Economy from the Effects of Harmful Practices in International Trade and its Executive Regulations and amendments, and based on complaints received from the industry.
Both Ministers affirmed that the government pays equal attention to all stages of the iron and steel industry as essential components of national industry. The government is keen to achieve integration and balance between integrated, semi-integrated, and re-rolling mills, ensuring the protection of existing investments, boosting local production capacities, and supplying factories with billets in appropriate quantities and technical specifications. This supports production continuity, stabilizes the local market, and enhances the competitiveness of the Egyptian iron and steel industry. They also emphasized joint governmental efforts to overcome global challenges facing the iron and steel industry, including the European Union's consideration of restrictions on scrap exports.
The meeting was attended by Ahmed El-Wakil, Chairman of the Federation of Egyptian Chambers of Commerce; Dr. Mahmoud Momtaz, Chairman of the Egyptian Competition Authority (ECA); Engineer Mohamed Zadeh, Assistant Minister of Industry for Strategic Industries; Dr. Nahed Youssef, Chair of the Industrial Development Authority; Ahmed Amawi, Head of the Customs Authority; Counselor Ali Azab, Assistant Minister of Investment; Mohamed Eyyad, Assistant Minister of Investment and Foreign Trade; Dr. Yomna El-Sherbini, Head of the Trade Remedies Sector at the Ministry of Investment; along with representatives from relevant ministries and entities.
