CIS billet exporters cautiously optimistic removal of Egypt import duty will boost demand

CIS billet exporters expect to see an uptick in demand from the Egyptian market after it temporary suspended safeguard duties on imports of steel billet and rebar.

The decision, announced on Thursday July 4, comes in two stages. The first part is to suspend the decision of the minister imposing 25% import duty for rebar and that for billet at 3-15%. The second part will move the case to the board of state commissioners for them to study it in detail.

This does, however, means the measures could be reinstated if the commissioners find the evidence of harm, and that is keeping the billet exporters and buyers cautious.


Vlada Novokreshchenova

July 05, 2019

16:50 GMT