Egypt imposed safeguard duty on China BB bar and wire rod
For a long period, imports steel products have been seizing more attention than the domestic products in Egypt. According to market sources, now, BB bar prices in the local Egyptian market are in the range of EGP 4.650-4.730/mt ($609-620/mt) ex-warehouse, including 8% VAT.
On the other hand, Chinese BB bar offers to Egypt are currently at $410-420/mt CFR. Egypt‘s Ministry of Industry and Trade has imposed import duty on BB bar and wire rod in its final decision in the safeguard duty investigation regarding imports of the products in question.
Accordingly, prices in the local Egyptian rebar market, which have been depressed by cheap imports, are expected to increase in the coming period.
During the week ending July 8, prices in the Chinese domestic cold rolled coil (CRC) market have continued their declining trend, while transaction activity in the overall market has remained slack. Average CRC prices in the local Chinese market are presented in the table below.
www.sjtrockbar.com
On the other hand, Chinese BB bar offers to Egypt are currently at $410-420/mt CFR. Egypt‘s Ministry of Industry and Trade has imposed import duty on BB bar and wire rod in its final decision in the safeguard duty investigation regarding imports of the products in question.
Accordingly, prices in the local Egyptian rebar market, which have been depressed by cheap imports, are expected to increase in the coming period.
During the week ending July 8, prices in the Chinese domestic cold rolled coil (CRC) market have continued their declining trend, while transaction activity in the overall market has remained slack. Average CRC prices in the local Chinese market are presented in the table below.
www.sjtrockbar.com
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