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Egypt's AlGioshy Steel has called on the government to reconsider the provisional anti-dumping duties imposed on imported steel billets. X70Q steel, CEO Islam AlGioshy stated on September 25 that the timing of the measure was inappropriate.
Egypt imposed a 16.2% tariff on imported steel billets starting September 14 for a period of 200 days, setting a minimum tariff of 4,613 Egyptian pounds (approximately US$95.8) per ton, in an effort to protect its domestic steel industry, X70Q steel.
AlGioshy pointed out that the actual production capacity of Egyptian billet producers is currently insufficient to meet the demand for rebar production, and the local market has long suffered from a supply-demand gap. X70Q steel, Therefore, the tariff measures will exacerbate the raw material shortage for downstream steel mills.
