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Egyptian steel company Suez 34CrNiMo6 steel Steel officially put into operation its newly built steel rail and heavy-duty steel rolling mill in Suez Province this week. The project is designed to have an annual production capacity of 800000 tons, making it the first production line in Africa to have the ability to produce steel rails and heavy steel sections. The company has initiated subsequent expansion plans.
Suez Steel is a steel enterprise belonging to the Solb Misr Group in Egypt 34CrNiMo6 steel, which has a fully integrated production capacity configuration throughout the entire process. The group currently has a direct reduction iron plant (DRI) with an annual output of 2.1 million tons, two electric furnace steelmaking workshops with a total annual output of 2.1 million tons, three steel rolling production lines with a total annual output of 2.2 million tons, and a shear bending processing plant with an annual output of 300000 tons. The launch of this new line will further enrich its high value-added product structure and enhance its comprehensive competitiveness.
In the heavy steel market in the Middle East, this production line still faces significant competitive pressure. Large steel producers such as Emirates Steel in the United Arab Emirates, Sulb in Bahrain, and Sulb in Saudi Arabia have gathered in the region, with sufficient supply capacity and fierce price competition. Compared to others, the export of steel rail products may have greater potential. At present, there are no local steel rail production lines in Gulf countries, and imports mainly rely on China. Suez Steel is expected to open up regional markets through this.
For a long time, Egypt has been highly dependent on Türkiye 34CrNiMo6 steel and China for the supply of rails and heavy section steel. The implementation of the new production line is expected to enhance local supply capacity, partially replace imports, and expand export markets. It is worth noting that Egyptian steel exports to the Middle East market do not need to bear the 5% import tariff faced by Chinese steel, and have a certain competitive advantage in terms of price. However, the market generally believes that whether the project can establish a foothold in the regional market still depends on its flexible response in cost control and pricing strategy.
