The Egyptian parliament has this week requested the government add a 10% import duty on finished steel products to protect local steel production, Egyptian market sources told Fastmarkets.
The government has not yet approved or rejected the proposal but, if accepted, flat steel producers will benefit from the new duties, sources said.Egypt already imposes a definitive safeguard duty of 16% of the cif price and a minimum of $74 per tonne on steel billet, which is effective between October 12, 2019, and October 12, 2020. The duty was set to...