Egyptian re-rolling mills have recently taken legal action to accuse the government of imposing 15% import tariff on billet, causing damage to industrial interests.
The Egyptian government has implemented 15% and 25% import duties on billet and rebar respectively since April 2019 for a period of 180 days. This measure caused the domestic re-rolling mills to be unable to bear relevant increased import and production costs, and billet imports plummeted sharply.
Re-rolling mills said that this policy was only conducive to the integrated steel mills who could simultaneously produce crude steel and reroll billet, undermining local market balance seriously.
Re-rolling mills accounted for 25% of market supply chain. If the court finally decided to remain the defense tariffs, these manufacturers might face bankruptcy.
Source from Yieh Corp
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