The Egyptian Ministry of Trade and Industry has postponed a duty reduction on billet and rebar for a period of six months until October 12, 2020, Egyptian sources informed Fastmarkets on Sunday April 12.
The duty was supposed to be reduced on April 12.The Egyptian Ministry of Trade and Industry announced a definitive safeguard duty of 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 was set to fall to 13% and...