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Since the beginning of this year, Egypt’s iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued a resolution in April, imposing a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days ending in October.
Increased imports caused damage to domestic industry, says investigation authority
Eleiwa says that billet imports reached 1.59 million tonnes last year, El Garhy believes industry is going through a tough period
Modernisation to turn the company’s EGP 50m annual losses into EGP 150m in profits, says Tawfik
Production values for chemicals and its products reached EGP 28.8bn for Q3 of 2018, compared to EGP 14.8bn for Q3 of 2017, an increase of 94.4%, due to increases in detergent and fertiliser production as well as an increase in market demand.
Steel price hiked by EGP 600, with expected increase of 15% on iron prices during decision period, says Ayad Group chairperson
Egypt’s Finance Ministry has imposed, on Monday, a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days. The ministry announced that the tariff aims to protect Egypt’s domestic iron and steel industry against dumping, and unfair competition. Local steel manufacturers have been calling on the government to …
I am optimistic about future of Egypt’s economy; government, businesspersons alike must do more
Egypt’s exports of iron and steel rose by 13% in the period from January to the end of June 2018
Company turned to profitability in first quarter of this year
Company expected to benefit from low-interest rate environment
The US Department of Commerce has made recommendations to the US president to impose a tariff of at least 53% on all steel imports from 12 countries: Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thailand, Turkey, and Vietnam, with a quota, depending on product, on steel imports from all other …
The new health insurance law, due to go into effect after parliament approved it last week, is set to see new fees imposed on certain commodities to finance the program. The Health Affairs Committee of Parliament approved on Tuesday the draft of comprehensive health insurance law, in which it authorised the article on additional sources …
The Egyptian Iron and Steel Company, one of the public sector companies, managed to reduce its losses in the first quarter (Q1) of the current fiscal year compared to the same period last year. According to the company’s statement to Daily News Egypt, it had a loss of EGP 191m, compared to EGP 233.6m in …
Decision includes imported iron from China, Turkey, and Ukraine
During the period from 10 July to 10 August, prices of steel increased six times, according to a member of the Egyptian Federation for Construction and Building Contractors, Sahl Al Damrawi. Al Damrawi noted, “there is no justification for this increase except the absence of the role of the state in controlling prices. The producers …
$1.8bn will be spent on importing billet rather than producing it locally, says El-Daw
It is expected that steel prices will decrease to EGP 5,200 per local tonne and EGP 5,800 per imported tonne once US dollar rate stabilises, says head of Real Estate Investment Division
The project will be established on Suez Canal territory, north-west Gulf of Suez with a production capacity of 1.2m tonnes
China’s Premier Li Keqiang has told EU officials that his country is committed to market reforms and will stay determined to tackle a steel capacity glut that has sharpened tensions between China and the EU.
The production value in the public business sector as a whole in 2014/2015 reached EGP 95bn, compared to EGP 114.8bn in 2013/2014, with a decrease of 17.3%.
Following his recent purchase of ONTV, Abou Hashima is planning a number of projects for the future of media and its expansion by launching other TV channels and producing drama series
Steel factories were spending $2bn to import steel plate, to offset low production resulting from gas shortage
Ezz Steel sells 8.4m tonnes of steel annually, including 1.8m tonnes of which are imported
Dollar crisis to affect real estate sector leading to at least 20% increase in price of housing units, said Abdallah
Steel workers and managers protested the import of Chinese ‘dumping’ products at a rally in Brussels. They urged the EU not to exacerbate the situation by granting China market economy status.
Deal is part of strategy to increase engineering exports to Britain