Trade protection measures in the Middle East could support local steel producers' attempts to capture much of the increased regional steel demand expected in 2018.
Gulf Co-operation Council (GCC) nations are due to make a final decision by the second quarter of this year on whether to impose anti-dumping duties on Chinese non-welded oil country tubular goods (OCTG) made of iron or steel with a radius under 16 inches. The GCC consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Meanwhile, Egypt decided in December to impose definitive anti-dumping duties on rebar from China, Ukraine and Turkey for five years. These add to measures that were considered or introduced over the past year in the region to stem imports of substandard steel products and safeguard the local steel industryRebar imports to the Middle East decreased significantly in 2017 with demand in the region being met by local producers. Market participants expect...