Egypt has imposed temporary safeguard duties on a range of steel imports to shield domestic producers from unfair trade practices, Investment and Foreign Trade Minister Hassan El-Khatib announced on Sunday. The duties, published in the Official Gazette effective from Sept. 14 and lasting 200 days, cover hot-rolled and cold-rolled flat steel, galvanised and colour-coated sheets, and billets. According to a ministry statement, El-Khatib said the move followed petitions from local manufacturers and comes amid a global steel glut that has prompted many World Trade Organisation (WTO) members to adopt protective measures. The safeguard probe is due to be completed within 12 months, but temporary duties must be imposed within 200 days, he added. Egypt's measures are in line with its WTO commitments and national law, and are intended to give the steel sector breathing space to boost production, expansion and exports, the minister said. The temporary safeguard duties are: * Hot-rolled flat steel: 13.6 per cent of cost, insurance, and freight (CIF) value, minimum EGP 3,673/ton * Cold-rolled flat steel: 11.11 per cent of CIF value, minimum EGP 4,152/ton * Galvanised sheets: 12.16 per cent of CIF value, minimum EGP 4,812/ton * Colour-coated sheets: 4.94 per cent of CIF value, minimum EGP 2,584/ton * Billets: 16.2 per cent of CIF value, minimum EGP 4,613/ton Attribution: Amwal Al Ghad English Subediting: Y.Yasser
