According to the data provided by the Istanbul Mineral and Metals Exporters' Association, Turkey's steel exports to the Egyptian market during the first 8 months of the year reached 799,950 tonnes declining by 96.49% YoY.
Turkish exports to Egypt, constituted mainly of rebar accounting for 11.6% of the overall Turkish steel exports to the MENA region which amounted to 6.9 million tonnes during the first 8 months of this year. Egypt is the third largest export market for Turkish steel while UAE comes first and Saudi Arabia second.
Despite the decline of Turkish exports to the Egyptian market during the period in question, Egyptian steel mills represented by the Chamber of Metal Industries are still demanding from the Ministry of Trade & Industry in Egypt to take immediate measures in order to limit the rebar imports, either by imposing protective measures or levying customs duties until decisions are reached in the dumping lawsuits filed by the Chamber.
Rebar mills in Egypt are facing a real crisis as a result of not being able to sell their stockpiles that accumulated to huge amounts after large shipments of Turkish rebar entered the domestic market, encouraged by the removal of customs duties between the two countries.
The reports said that the Chamber of Metal Industries has lately filed again a dumping lawsuit against imported Turkish rebar, demanding 10% customs duty to be levied on imported rebar. The continuous influx of steel imports into Egypt have lead to a partial shutdown of some mills and reducing production in others as a result of the inability of local mills to sell out their products.
