CIB: Turkey is back in the Egyptian rebar market

The Turkish Steel Exporters' Association (CIB) has stated that Turkey is back in the Egyptian rebar market and that Turkish rebar exports to Egypt will start rising following the termination of the antidumping (AD) duty investigation regarding Turkish rebar and wire rod without any safeguard measures.
 
According to the CIB data, in 2012 Turkey's rebar exports to Egypt stood at 454,000 mt with an export value of $288 million, accounting for 86 percent of Egypt's total rebar imports. During the first 10 months of the current year, Turkey's rebar exports to Egypt decreased by 82 percent year on year to 79,000 mt.
 
"Although the Egyptian producers have a cost advantage over their Turkish counterparts, they are facing difficulties in terms of efficiency. However, this cannot be solved with artificial safeguard measures," CIB chairman Namık Ekinci commented.
 
Mr. Ekinci pointed out that strong competition will reduce construction costs in Egypt, adding that the decision made by the Egyptian authorities eliminates a breach of the free trade agreement between Egypt and Turkey.