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Egypt plans to raise
6/19/2020 plate metal expo-wire expo |
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According to the latest market news, the Egyptian Ministry of Trade and Industry is planning to increase import tariffs of billet and rebar, and officials will have a discussion with steel producers on the issue this week.
In order to protect domestic industries, in April, the Egyptian Ministry of Trade and Industry postponed the reduction of safeguard tariffs until October. Congress asked the government to impose a 10% tariff on imported steel products to protect the domestic steel industry but there was no conclusion in the end.
Although the Egyptian government ordered the closure of all engineering at the end of May for 6 months, excluding infrastructure, the government projects weren''t able to support the domestic steel demand.
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