Egypt will maintain tariffs on steel rebar from China, Turkey, and Ukraine for a period of five years, the Ministry of Trade and Industry said in a statement on Wednesday, extending a temporary tariff imposed earlier this year.
The tariff was first implemented in June to protect local manufacturers and set at 17 percent for Chinese steel, 10-19 percent for Turkish steel, and 15-27 percent for Ukrainian steel.
The statement quoted Minister Tareq Qabil as saying that the decision was taken after a “careful examination ... and based on a complaint by the local industry.”
Steel rebar prices in Egypt have sharply risen since the tariff was implemented last June.
Egypt produces annually 6 to 7 million tons of steel rebar.