Trade Ministry keeps anti-dumping duties on steel for 2 more months

Decision includes imported iron from China,Turkey, and Ukraine

The Ministry of Trade and Industry decided to extend the period of application of temporary anti-dumping duties on steel (skewers, rolls, and rods) imported from or originating in China, Turkey, and Ukraine for two months.

According to a statement issued by the Ministry, the decision stipulates that the duty rate should be 17% of the cost, insurance, and freight (CIF) value on Chinese imports,10% to 19% of the CIF value on Turkish imports, and 15% to 27% of the value of the CIF on Ukrainian imports.

It is noteworthy that decision No. 874 on the imposition of temporary anti-dumping duties on imports of reinforcing steel (skewers, rolls, and rods) exported from or originating in China,Turkey, and Ukraine in June includes the imposition of such duties for a period of four months ending on 6 October 2017.

According to the head of theTrade Agreement Sector, Ibrahim El Segeeny, the Advisory Committee recommended extending the period for two months from the expiration date of Resolution 874 to 6 December, bringing the total period of application to six months after receiving a request from a number of exporters representing a large percentage of trade.

The product under investigation shall extend the application period.

The sector studied the application in light of the provisions of Article (47) of the Anti-Dumping Agreement, which stipulates that the period of application of the fees may be extended.

Minister of Trade and Industry Tarek Kabil said that the extension decision came after a careful study conducted by the Anti-Dumping, Subsidy, and Safeguard Department on the complaint of the local industry, which was affected by the large increase in imports of reinforcing steel from countries such as China, Turkey, and Ukraine.

Kabil added that the manufacturers provided all the documents indicating that these imports are received at exorbitant prices, which is confirmed by the investigation bodies. Nevertheless, there is good preliminary evidence of dumping and damage,as well as a relationship between dumped imports and the physical damage to the local industry.