Turkish rebar sale to Egypt

Last week, Egypt's Ministry of Industry and Trade announced the results of its antidumping (AD) duty investigation regarding imports of rebar from Turkey, Ukraine and China. Despite the temporary 10-19 percent AD duties imposed on rebar imports from Turkey for a period of four months, a Turkish steel mill has concluded a rebar sale to Egypt at $440/mt CFR on actual weight basis.
 
Although demand in the local Egyptian rebar market has slowed down slightly due to Ramadan, it is still strong. Also, following the announcement of the government's decision to impose AD duties on the three abovementioned countries, local steel producers have increased their domestic rebar prices. These two factors have been influential in the conclusion of the Turkish rebar deal in question, market sources report. It has also been indicated that the price level of $440/mt CFR does not include the AD duty which will be paid by the buyer.