EGYPT STEEL BILLET, REBAR: Duty reduction fails to stimulate demand, prices unchanged

Demand for rebar and billet in Egypt failed to improve in the week to Thursday, October 22, despite the authorities reducing safeguard duties on the products, sources told Fastmarkets.

Steel billet and rebar prices in Egypt were unchanged as a result, they added. 

The duty for imported billet was cut to 13% for the cif market last week, with a $60-per-tonne minimum, compared with the 16% duty and $75 -per-tonne minimum that had been in effect since October 2019.
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Published

Serife Durmus

October 22, 2020

15:48 GMT

Bursa