As of June 24, the Egyptian government has decided to impose an additional tariff of 10% on deformed steel bars, wire rods and some flat steel products, which may in particular restrict Türkiye’s export of flat materials to Egypt in the coming months. At present, it has been seen that coated coiled materials shipped to Egypt have been affected by the tariff hike.
The seller in Türkiye fed back: “With the recent tariff decision, the cost of our Egyptian buyer has increased unexpectedly. This protective measure is damaging the local industries in various countries, while trying to protect local steel producers. It is expected that these tariffs will support the sales and prices of Ezz Steel in the domestic market, which currently dominates the Egyptian steel market in terms of long and hot rolled coils.”
Although Türkiye’s rebar export to Egypt was still low at 4500 tons in 2019 due to the 25% tariff on rebar, Türkiye’s rebar export to the country last year showed a significant increase. According to the data of Türkiye Statistics Bureau (TUIK), Türkiye Steel Plant exported 287600 tons of hot rolled coils to Egypt in 2019, more than double the year-on-year growth, while the total export volume of cold rolled coils of the steel plant last year was 15800 tons, and the export volume in 2018 was only 9580 tons.
In 2019, Türkiye Steel Plant exported 53900 tons of film coated coiled materials to Egypt, with a width of 600 mm or more, higher than 41100 tons last year.
