According to a WTO document, Egypt has launched safeguards investigations on the import of semi-finished products, wires and rods for construction purposes in accordance with HS Code headings 7207, 7213 and 7214.
The data show that imports have increased significantly gave rise to decline in sales and market share, as well as large increases and losses in domestic industries. The investigation will determine whether the increase in imports has caused serious harm to the domestic industry.
Egypt used to import a large amount of billet from the CIS. In recent years, the country has invested heavily in new crude oil-making capabilities in order to achieve self-sufficiency in the supply of the billet.
However, domestic steel mills found that it is difficult to compete with import costs. At the end of 2017, Egypt imposed a five-year anti-dumping duty on imports of rebar and wire rods from China, Turkey and Ukraine. This effectively reduces imports from these sources.
Source from Yieh Corp |
