The European Union has reduced its provisional anti-dumping duty on Egyptian hot-rolled steel imports from 15.3% to 12.8%, effective April 7, for a six-month period until a final decision is made. The Chamber of Metallurgical Industries attributed this adjustment to efforts by Egypt's Anti-Dumping and Subsidy Authority, working alongside the European Commission to overturn the recently imposed duties.
The duty was initially imposed due to increased shipments of Egyptian steel to the EU, along with imports from Vietnam and Japan. This prompted the European Commission to reassess market conditions before implementing the change.
The Chamber anticipates a substantial decline in Egypt’s steel exports to the EU due to these duties. Egyptian hot-rolled steel accounts for over 50% of the sector’s total exports to the EU, amounting to approximately 694,000 tons annually, valued between $1.2 billion and $1.3 billion.
The European Commission had initially planned a 15.6% anti-dumping duty on Egyptian steel, before revising it in its final decision.
