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Egypt's provisional safeguard duty for import billet shocks the market-铸件展-铸件采购会-国际铸件展-铸造工业展-2026第二十六届广州国际铸件产品及铸造工业展会-巨浪展览-The 26th China(Guangzhou) Int'l Casting Products ,foundry Industry Exhibition
9/15/2025 铸件展-铸件展会-casting expo-casting exhibition |
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Egypt has taken decisive steps to shield its steel sector from rising import pressures. Following a significantsurge in steel imports, Egypt has notified the World Trade Organization (WTO) of provisional safeguard dutieson billets, aiming to restore profitability and market stability for domestic producers.According to the Egyptian authorities, imports of billet surged 227 percent year on year in 2024. These sharprises eroded local producers’ market share and profitability, prompting emergency measures to prevent long.term damage to the domestic steel industry.
In response to the threat, Egypt is proposing a provisional safeguard duty on billet imports following a safeguardinvestigation. Proposed provisional safeguard duty on the imports of the given product under the code 7207 is16.2 percent ad valorem on the ClF import value, with a minimum specific duty of 4.613 EGP/mt, effective fromSeptember 14, 2025, valid for 200 days or to around April/May 2026. Previously, Egypt imposed a safeguardimport duty on billet in 2019 at 16 percent which was to be gradually decrease to 13 percent and then to 10percent. However, supported by the lobby of the local re-rolling companies, who faced declined efficiency oftheir production operations, the safeguard duty was cancelled in November 2021, and reopened gates to billetimports for several years.
The newly proposed safeguard duty is expected to have a similar impact on the market and is to minimize theimport billet inflow to Egypt, at least in the mid-term. in the recent years, Egypt was mainly focusing onimporting billet, originating from Russia and Donbass, an occupied territory of Ukraine, since it had been thecheapest one. "lmport duties are applicable for the cargoes which are at the port and not yet custom cleared [inaddition to newly booked onesl." a Russian billet seller told SteelOrbis. in addition, there were occasional billetsales from Ukrainian mills in case of matching prices and suficient allocation. Asian billet was being booked toEgypt in case of competitive pricing and acceptable lead time.
''Egypt''s import from Russia is to for sure drop significantly, leaving Turkey basically the only large buyer lof thisorigin] in the region. But Turkey''s workable prices are much lower than Egyptian ones were until recently and inthis situation [Turkishl buyers will put even more pressure, l think," a market source said, commenting on thesituation.
According to market information, the latest workable prices from Russia to Egypt, before the announcement,stood at $485/mt CFR and maybe slightly higher than that. In the meantime, the recent bids from Turkey havebeen reported at $455-460/mt CFR, following deals at $458-465/mt CFR closed over the past couple of weeks.
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