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Latest Egyptian Steel News
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Anti-dumping measures on steel rebar from turkey to egypt
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Panel Report. Action by the Dispute Settlement Body. At its meeting on 1 October 2002, the Dispute Settlement Body adopted the Panel Report on Egypt - Definitive Anti-Dumping Measures on Steel Rebar from Turkey (WT/DS211/R). Turkey said that it did not fully agree with all of the Panel’s conclusions in this case but that, with the belief that Egypt would take the necessary measures towards implementation, it did not intend to appeal the report. Egypt said that it agreed with the findings of the Panel and that it would take the necessary actions to implement its recommendations either immediately or within a reasonable period of time. for full info see http://www.worldtradelaw.net/reports/wtopanelsfull/egypt-rebar(panel)(full).pdf |
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Hadisolb completes the first phase of restructuring programme
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Egypt State-owned Egyptian Iron & Steel Company (Hadisolb) has completed the
first phase of its planned restructuring program, aimed at preparing the
company for privatization. The first phase has entailed 3,500 workers taking early retirement. This has brought the total workforce at the Helwan complex of Hadisolb down to 19,000. The eventual target is to trim the workforce to 10,000. The company is also in negotiations with banks about restructuring its debts, estimated at £E 3,300 million ($717 million). |
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Egypt: American Steel Rolling commissions
second bar mill line
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Egyptian-American Steel Rolling, which is based in Sadat City, between Cairo and
Alexandria has just started commissioning its 500,000 t/y SIMAC bar mill. Its
erection was completed in June last year, but there were delays with the
commissioning, due to the supply of certain parts, as well as too few workers,
the Egyptian company tells Steel Business Briefing. The company's 500,000t/y combined wire rod and bar mill was commissioned in June last year and full capacity is expected within 4 to 6 months. This line currently produces about 25,000t/m and until now, production has been for the domestic market. Egyptian American is considering further investment for the building of a melt-shop and a section mill, adds the executive. |
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EU exempts Egypt from protective measures
over steel exports
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The European Union EU decided to exempt Egypt from protective measures it levied
on its imports of the Egyptian steel. The exemption will cover 13 steel products
out of 14 Egypt exports to the EU. A statement issued by the Foreign Trade Ministry said that this exemption came in light of the rules which served as the guideline to the recent decision. It added that some other products were included as part of the decision but it was difficult to exempt Egypt form the measures. Ghali has conducted intense contacts with the European side to head off possible damage Egypt's steel exports to EU markets, noted the statement. Egypt is one of the most important suppliers of rolled steel sheets. The EU imported about 5.1 million tones of steel in 2001, with the Egyptian product accounting for about 300,000 tonnes. Ghali added that it is expected to export about one million tones worth $ 70 million this year to Europe against 350,000 tones last year. EU imports about 60 percent of the Egyptian total production. It is worth mentioning that USA recently exempted Egypt from some protective measures it had taken against its steel exports from Europe and other continents. |
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