The price of steel billet imported into Egypt decreased in the week to Thursday July 18 because of lower offers and bids, while demand remained poor because of uncertainty about the application of import duties.
"Offer prices have fallen but there are no bookings because of the uncertainty about safeguard duties," a local market source told Fastmarkets.In April, Egypt imposed a temporary additional duty on rebar and billet in response to increased import volumes. The duty was set at 25% for rebar imports, and between...