Morocco’s leading flat steel producer, Maghreb Steel, reported a 10pct YoY increase in revenue for the first three quarters of 2024, driven by strong domestic sales.
The company’s sales revenue rose to MAD 3.854 bln (USD 375 mln) between January and September 2024, compared to MAD 3.513 bln during the same period in 2023. In the third quarter alone, Maghreb Steel achieved a 20pct YoY revenue growth, totaling MAD 1.3 bln (USD 126 mln).
Sales volumes also showed significant growth, climbing 19pct YoY to 387,000 tons in the first nine months of 2024. In the third quarter, sales volumes surged 27pct YoY, reaching 132,000 tons.
Maghreb Steel, the country’s sole flat steel producer with an annual capacity of 1 mln tons, produces hot rolled, cold rolled, galvanized and prepainted coils and sheets.
1 USD / 10.2 MHD
