Egypt initiates safeguard investigation on billet and rebar imports

Thursday, 04 April 2019 10:56:31 (GMT+3)   |   Istanbul
       

Egypt’s Ministry of Trade and Industry has notified the World Trade Organization (WTO) that it has initiated a safeguard duty investigation on steel billet and rebar imports.

The investigation was initiated upon the allegations that increased imports of the subject products caused serious injury to the domestic industry producing similar products. The data currently available also shows that there have been sudden, recent, significant and sharp increases in imports.

According to the WTO document, increased imports of the subject products caused decrease of sales, decline in market share, huge increase of inventories, and losses for the domestic industry, in conjunction with the increase of imports.

The products subject to the investigation currently fall under Egyptian Customs Tariff Schedule Numbers 7207, 7213 and 7214.


Most Recent Related Articles

Ex-CIS billet prices under pressure from weak demand, negative sentiment in scrap

India’s ArcelorMittal Nippon Steel bids to secure iron ore mines in Odisha

China’s HRC output up 10% in 2019, CRC output rises by 3.5 percent

Short sea scrap price down sharply in fresh deals to Turkey

US import HDG still holding steady