Egyptian court denies appeal of import duty on billet

Tuesday, 16 July 2019 18:05:37 (GMT+3)   |   Istanbul

SteelOrbis has heard that the Egyptian administrative court has denied the appeal of Egyptian steel mills regarding the recent cancellation of the import duty on billet.

Accordingly, the decision to suspend the billet safeguard is back in force; however, there has been no directive sent to the customs
authorities yet.

Market sources tell SteelOrbis that they expect billet inflow to restart soon and that some Egyptian mills have already stopped or decreased their steel production.

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