Egypt considers canceling dumping fees on rebar steel imports

Egypt considers canceling dumping fees on rebar steel imports

The Egyptian government is considering canceling dumping duties levied on rebar steel imports to enable real estate firms and developers to meet their needs of rebar steel of which current prices reached EGP 50,000 per ton, Minister of Trade and Industry Ahmed Samir told Al Borsa News. The trade ministry has formed a committee to study the decision, Samir said, adding that the decision would be applicable provided that there is no prejudice to local rebar steel firms. The decision is expected to contribute to bringing the price of rebar steel to its normal level, the minister noted. He pointed out that the ministry is coordinating with the Central Bank of Egypt (CBE) to add the industrial production requirements to the strategic commodities to operate all the factories, given that the country is targeting to boost exports this year to secure foreign currency. Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info). Egypt considers canceling dumping fees on rebar steel imports