Egyptian steel sector filed anti-dumping lawsuit against importers of wire rod and rebar

Steel companies in Egypt have filed an appeal against the import of wire rod and rebar from China, Ukraine and Turkey in order to protect their own industry from products sold at low prices.

Egyptian Steel and other steelmakers have asked the government to re-impose anti-dumping duties on imported wire rod and rebar, said the company's chief executive, Ahmed Abu Hashima. Wire rod and rebar are the main components used in the construction industry.

Egyptian metallurgy is now at a critical juncture as it has not yet recovered from political problems while the global market is struggling with low prices and excess volumes due to weak demand. Therefore, foreign rebar and wire rod should not enter the country with zero customs rates, as representatives of the Egyptian metallurgy believe. They believe that the only way to develop the Egyptian economy is to change the conditions for the import of imports.

Worldsteel data showed that the output of the Egyptian steel sector fell 8 percent year on year to 2,050,000 tons. The sector grew 1.9 percent last year despite political turmoil. Egyptian Steel plans to improve its production capacity to 2 million tonnes per year by the end of 2016.

Since April this year, the US Department of Commerce has imposed preliminary tariffs on imports of steel bars from Turkey and Mexico due to the sale at unfairly low prices. At the same time, the Egyptian Ministry of Industry saved Turkey from import duties, but now they abandoned this decision, since Turkey is the main exporter of steel reinforcement in the world.