Minister of Trade and Industry Rashid Mohamed Rashid said the conditions for imposing anti-dumping charges on iron imports do not apply to the Egyptian market at the moment, especially since the local factories did not make a formal complaint supported by evidence to impose such charges. He said that requests by producers to impose anti-dumping charges should be in conformity with the rules and conditions of the World Trade Organization, which sets strict conditions for this issue, and does not leave the matter to the special considerations of each country.
A number of local iron producers had sent numerous complaints to the Ministry of Trade and Industry, requesting an imposition of anti-dumping charges on iron imports, but they were not supported by official figures or data.
Meanwhile, demand for iron continued to decline, although Ezz Steal Co. reduced its price to LE 2,900 ex-factory, while the other factories sell between LE 2,800 and LE 2,875 per ton. The commercial price of Turkish iron ranged between LE 2,800 and LE 2,850. The sales and marketing managers of the Turkish factories left Cairo in the last two days when Ezz Co. reduced its prices.
