Minister of Investment and Foreign Trade Mohamed Farid and Minister of Industry Khaled Hashem held on Wednesday, October 21, 2026, talks with representatives of integrated and semi-integrated steel plants, as well as rolling mills to discuss the challenges facing the sector amid global conditions and ways to ensure the availability of steel billet in the required quantities, technical specifications and at reasonable prices, thereby supporting domestic market stability and continuity of production.
During two expanded meetings attended by representatives of companies operating in the sector, the ministers stressed the importance of achieving integration across the various stages of the iron and steel industry, protecting existing investments and strengthening domestic production capabilities, with a focus on deepening local manufacturing and reducing reliance on imports.
The two ministers announced that market conditions would be monitored through a permanent committee comprising representatives of the ministries of industry, investment and foreign trade and supply and internal trade, as well as the Egyptian Competition Authority.
The committee will assess market developments, the availability of steel billet and the regularity of supply chains. Hashem said the iron and steel industry is one of the strategic sectors targeted under his ministry's 2030 strategy, given its role in supporting numerous key industries.
He noted that new licenses for billet production had been offered under facilitated pricing and payment terms to encourage the expansion of melting and manufacturing activities and increase added value. Hashem stressed that companies awarded the new licenses must take swift steps toward production and operation, contributing to the development of local industry and reducing billet imports.
He also underscored the importance of companies submitting the necessary data and documents to enable the committee to assess market conditions and the impact of the measures in place. For his part, Farid said the ministry continuously monitors developments in the billet market to ensure the availability of sufficient quantities that meet the required technical specifications at competitive prices.
He added that the ministry continues to examine companies' complaints and observations based on actual data, supporting documents and the findings of on-site verification visits. Farid stressed the need to ensure the availability of billet required for production and operations in line with the production capacities specified in industrial licenses, as well as the required quantities, grades and technical specifications, to maintain supply chain regularity and ensure the continued operation of factories.
The two ministers affirmed the government's commitment to balancing the interests of integrated and semi-integrated steel producers and rolling mills, while enhancing the competitiveness of Egypt's iron and steel industry amid global challenges, including the European Union's consideration of restrictions on scrap exports.
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