Egypt rejects demands to re-impose duties on rebar from Turkey

Tuesday, 07 September 2010 15:46:39 (GMT+2)

The Egyptian Ministry of Industry and Trade has reportedly rejected demands from local rebar producers to re-impose 10 percent customs duties on imported rebar.

According to a report by ArabSteel.com, the International Conventions Sector has sent a rejection note to the Industries Union's Chamber of Metal about the decision it made regarding the request that would affect rebar imports, especially from Turkey, to a large extent.

The Chamber of Metal Industries criticized the decision on the background of recurring losses incurred by public and private mills in Egypt for more than two years, which resulted in the mills stockpiling up to one million mt of their production, while imports from Turkey last year reached up to 3 million tons, seizing 50 percent of the Egyptian market.

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