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You are here: Home- NewsEgypt imposed anti-dumping duties on imported steel from China and other three countries

Egypt imposed anti-dumping duties on imported steel from China and other three countries

Posted:12/12/2017 1:50:38 AM

According to Egypt's "Daily News" reported on December 6: Egypt Trade Ministry recently announced that from June 2017 (announced the temporary collection) to June 2022 to China, Turkey and Ukraine imposed anti-dumping duties on imports of steel for a period of five years . On imports of steel products in China to impose anti-dumping tariffs increased to 29% from 17% when the temporary levy; on imports of Turkish steel product anti-dumping duties tax rate from 10% and 19% temporary levy to 7% and 22.8%; imports to Ukraine The rate of anti-dumping duties imposed on steel products was adjusted from 15% and 22% of provisional collection to 17.2% and 27% respectively. Egypt will brief the World Trade Organization about the situation.
Egyptian importers expressed dissatisfaction with the decision of the Ministry of Trade and Industry, saying steel production in Egypt does not meet the market demand and that iron and steel enterprises could take the opportunity to manipulate the market price of their products. October 2017 Egyptian steel ex-factory price of 11.65 thousand pounds per ton to 11.97 million Egyptian pounds. The current international market price of steel 530 to 540 US dollars per ton. Steel prices in Egypt are expected to continue to rise.

In 2015, Egypt imported 1.1 million tons of steel and 1.8 million tons in 2016. Its steel imports dropped to 300,000 tons in the first eight months of 2017, significantly lower than the same period in 2016 (1,261,000 tons).

Source: Ministry of Commerce

 

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