Some re-rollers want the duties on billet imports to be removed because they cannot compete with the integrated mills, Egyptian sources told Fastmarkets.
Egypt cut the duty to a 13% safeguard duty on the cif price of billet imports
, with a minimum of $60 per tonne, back in April 2020. This duty level is set to gradually reduce again in April 2021, down to 10%, Fastmarkets understands.
The duty was previously 16% of the cif price and a minimum of $74 per tonne for steel...