Egypt removes safeguard duties on billet and rebar

The Egyptian Ministry of Industry and Trade has suspended safeguard duties on imported billet and rebar, effective Monday November 15.

The measure suspends import duties that had been in effect in the country since October 2019 to help local industry combat the significant rise in energy and shipping costs.
There had been expectations that the duties would be removed in June this year, but the measure was not introduced at that time.

The removal of safeguard duties is expected to lead to a recovery of import volumes of the products concerned, particularly billet. Local long steel producers had been voicing complaints about the shortage of the material in the country,...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold