Ezz Steel, the largest steelmaker in Egypt posted a net profit of EGP 8 million for 2012, slumping from EGP 202 million in a year ago.
Meanwhile, Ezz Steel realized sales revenues of EGP19.8 million, rising by 6% year on year.
Ezz Steel stated that the prices of steel long products and steel flat products decreased by 3% year on year respectively in the domestic market.
Besides, the export prices of steel flat products decreased by 7%, showing the weakness in international steel markets.
In 2012, Ezz Steel's sales volumes of steel products totaled 4.8 million tons, rising by 2% year on year. Among them, 3.9 million tons were steel long products, rising by 8%; 893,000 tons were steel flat products, falling by 11%, both compared those in a year ago.