EGYPT STEEL BILLET, REBAR: Duty reduction fails to revive prices

Steel rebar and billet prices have remained stable in Egypt in the week ending Thursday November 5, with demand being very weak, sources have told Fastmarkets.

Egypt had reduced the safeguard duty it imposed on billet and rebar imports the week before.
The duty for imported billet has been reduced to 13% for the cif market but with a minimum of $60 per tonne. This compared with a 16% duty and $75 per tonne minimum, effective since October 2019.

For rebar, the...

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