28
Jan
15:10
Egyptian re-rollers suspend production again on billet duty
Some 22 Egyptian long product re-rollers will suspend production as the country’s safeguard duty is preventing them from acquiring billet feedstock at competitive prices, local market sources tell Kallanish.
Egypt implemented a 15% provisional billet safeguard duty last April, after which numerous re-rollers also halted production because their cost of production consequently exceeded sales prices. In October the duty was nevertheless increased to 16%, or a …
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Very good overview of the weekly steel market.
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