Egypt imposes temporary duties of 15 pct on iron billets, 25 pct on steel rebar

17/04/2019 12:00 - 449 Views

Egypt has imposed temporary import fees of 15 percent on iron billets and 25 percent on steel rebar for 180 days from March 15, the finance ministry said.

The ministry said the import fees aim to protect national industry against unfair competition.

Egypt said in 2017 that it would maintain tariffs on steel rebar from China, Turkey and Ukraine for a five-year period in order to protect local manufacturers.

Local newspapers said manufacturers had urged the trade ministry to implement the latest anti-dumping measures because of a global oversupply of billets as a result of U.S. import restrictions.

April 16, 2019
Source: Reuters