EGYPT STEEL BILLET, REBAR: Prices stable while market conditions unclear

Steel billet and rebar prices remained stable in Egypt in the week to Thursday October 15 while trading activity was modest amid a lack of clarity over market conditions, sources said.

Several market sources reported that safeguarding duties for imported billet and rebar had been reduced in the country earlier in the week, although no official documents had been provided to Fastmarkets by the time of publication.
The duty for imported billet was said to have reduced to 13% for the cif market with a $60-per-tonne minimum, compared to a 16% duty and $75 -per-tonne minimum effective since October 2019, sources told Fastmarkets.
For rebar, the duty is reported to have reduced to 21% or a $105-per-tonne minimum payment, down from a 25% duty on the cif price and a minimum payment of $125 per tonne, market sources said.

The Egyptian government had initially scheduled to reduce the duties in April of this year but then postponed it until October 12 due to the effects of...

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