Steel and aluminium sectors seek export subsidies

Egyptian media has quoted Eng. Mohamed Sayyed Hanafi, Director General of the Metallic Industries Chamber as saying that the bolts industry, the steel structures industry and the aluminum sections industry, which are members of the Chamber, have recorded reasonable exports performance and are calling for some export subsidies for a possible support.

Eng Hanafi noted that these 3 industries have succeeded, over the past few years, in penetrating several African and European markets. While bolts exports in 2010 reached L.E. 100 million, divided on 9 factories, steel structures exports during the same year exceeded L.E. 300 million divided on 4 factories (employing than 10,000 workers), and aluminum sections' exports reached L.E. 280 million divided on 8 factories.

All 21 factories have their local raw materials base and domestic market support, which translates into huge backup potential for those factories to orchestrate their export pricing policies and to benefit from the break - even point analysis. Serious observers inquire about a possible support to those industries to be extended by the Egyptian Aluminum Co., by HADISOLB and other Egyptian private steel companies.