The Egyptian Ministry of Trade and Industry announced permanent duties on steel billet, rebar and wire rod on October 10, effective from October 12, Egyptian sources told Fastmarkets.
The permanent safeguard duty is 16% of the cif price and a minimum of $74 per tonne for steel billet from October 12, 2019 until April 11, 2020. The duty will fall to 13% and $60-per-tonne minimum payment on April 12, 2020 until April 11, 2021, and to 10% and $46-per-tonne minimum payment on...