News Steel

EGYPT STEEL BILLET, REBAR: Rebar prices fall; billet importers want duties gone

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…

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