Egyptian Iron sales down

Sales volumes at Egyptian Iron & Steel Co exceeded 553kt of long and flat products in 2009.

Sales of flat products consisted of more than 50% of overall sales, while sales of long products made up 28% of overall sales. About 87% of its overall sales were to the domestic market while the remainder were for export mainly to the Arab and European countries.

The company reported a decline in profits compared to 2008 as well as a production decline. Crude steel was 34% down, finished products were 31.5% down and flats 37% down.

However it said production levels in 2010 should be similar to 2008 and be about 850kt of steel. The company has begun building an oxygen plant due to open in 2012 and has completed an overhaul of its blast furnace no. 2.