EGYPT STEEL BILLET, REBAR: Rebar prices fall; billet importers want duties gone

Rebar prices in Egypt remained unchanged over the week to Thursday January 21, while there was no billet import activity because of the recently imposed safeguard duties, sources told Fastmarkets.

Some re-rollers want the duties on billet imports to be removed because they cannot compete with the integrated mills, Egyptian sources told Fastmarkets.
Egypt cut the duty to a 13% safeguard duty on the cif price of billet imports, with a minimum of $60 per tonne, back in April 2020. This duty level is set to gradually reduce again in April 2021, down to 10%, Fastmarkets understands.

The duty was previously 16% of the cif price and a minimum of $74 per tonne for steel...

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