Please note that the JSE will be closing at 3pm on 26th April
to accommodate for the launch of the new Derivatives platform.
Stacks of rebar are seen at warehouse of NLMK Kaluga steel mill in Vorsino outside Kaluga

Egypt imposes temporary duties of 15 pct on iron billets, 25 pct on steel rebar

CAIRO (Reuters) - Egypt has imposed temporary import fees of 15 percent on iron billets and 25 percent on steel rebar for 180 days from Monday, the finance ministry said.

The ministry said the import fees aim to protect national industry against unfair competition.

Egypt said in 2017 that it would maintain tariffs on steel rebar from China, Turkey and Ukraine for a five-year period in order to protect local manufacturers.

Local newspapers said manufacturers had urged the trade ministry to implement the latest anti-dumping measures because of a global oversupply of billets as a result of U.S. import restrictions.

(Reporting by Ehab Farouk; Writing by Aidan Lewis and Nadine Awadalla; Editing by Kirsten Donovan)

2019-04-15 11:45:16

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.