Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.
The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operations before, during and after arrival of goods, according to guidelines issued by the Finance Ministry (Decree 38 & 222 of 2021).ACI requires importers to...