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Steel companies in Egypt have submitted a petition to the government to reintroduce anti-dumping duties on imports of rebar and wire rods, which is used extensively in the construction industry
According to the country’s leading steel manufacturers, a petition has been filed against rebar and wire rod imports from China, Turkey and Ukraine, in a bid to protect the industry from low-priced imports.
The petition comes after other countries, including the US, successfully imposed protection duties on imports of steel rebar, stated a Reuters report.
Ahmed Abou Hashima, chief executive of Egyptian Steel, said, ”How can foreign rebar and wire rod enter Egypt with zero customs? We have very high-tech industries in Egypt, especially in steel.”
Worldsteel, international trade body for iron and steel, added that Egypt’s steel output fell at an annual rate of eight per cent in Q1 2014 to 2.05mn tonnes.
Egypt’s steel industry is, however, keen to grow and recover from a series of political upheavals. Steel major Egyptian Steel is also planning to expand its annual capacity to over two million tonnes by late 2016 from 800,000 tonnes, added the report.