CAIRO: Metallurgical Industries chamber director in the Federation of Industries, Mohamed Hanafy, stated Thursday that imports of Chinese steel that entered the country reached 100,000 tons since the protection tariff was implemented on the state’s steel imports.
He told Youm7 that there is a potential that another 100,000 tons may come to the country during the coming days.
Gamal Al-Garhy, head of Metallurgical Industries chamber, said that China supports the steel’s industry implementation of a 15% protection tariff on the foreign steel imports, however adding that that it is not identical to Egyptian standards. as it contains a substance that it’s not allowed to be used in the construction of high buildings.
Earlier in October the Minister of Trade and Industry Mounir Fakhry Abdel Nour announced a 7.3 percent temporary tariff to protect domestic steel manufacturers.
The 7.3 percent tariff, with a minimum of 290 EGP ($45.5) per ton, will said be levied for a maximum period of 200 days.
Additional reporting by Salim Ali