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Businesses in the steel sector are following the tacit golden rule of this era ‘export as much as you can and import as little as possible’ are doing better than others. This applies to a certain extent to manufacturers of steel materials used in the industrial, construction, and other sectors. Steel companies that target local exportoriented corporate customers are likewise doing well. Those that focus on corporate clients that only serve the local market are witnessing a severe decline in their sales. All these companies, whatever market they target, are often unable to fully abide by the second part of the golden rule because almost all of their raw materials are imported. The country suffers from a large trade deficit in these steel materials. Imports of these products plunged by 55 percent to $221 million in 2020 compared with the previous year while exports decreased 21 percent to $23 million. Local exporters of steel materials could seize the opportunity created on the African market by China’s decision to curb its steel exports. They can also continue to benefit from favorable conditions in Europe thanks to their small size that does not represent any
