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Egyptian Steelmakers Demand Protection Against Low Priced Imports

  • Thursday, March 12, 2009
  • Source:

  • Keywords:steel
[Fellow]
Egyptian steel producers are demanding that the government take steps, including imposing import duties on steel products, as a means of protection against lower priced imports, steel producers in Egypt told Platts Monday.
 
According to the sources, the president of the Metallic Industries Association in Egypt submitted an official memorandum to the Ministry of Industry and Trade asking them to impose import duties on the imported steel. The Metallic Industries Association was unavailable for comment.
 
Egyptian iron and steel producing companies, lead by El Ezz Steel, reduced their rebar prices for March 2009 last week. El Ezz Steel dropped its monthly prices by $62/mt to $543/mt ex-works for sizes of 10-40 mm. Other Egyptian producers reduced their prices to around the same levels.
 
The lower price exports of steel rebar by Turkey is a result of weak global demand, an Egyptian steel producer said. Platts reduced its rebar price Tuesday to $380/mt FOB basis Turkey, following a fall in deal prices. -Platts
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