Egypt imports 350.000 Tonnes of Steel worth $175mn in Q1

Egypt had imported 350.000 tonnes of steel worth US$175 million during the first quarter of 2015, head of Chamber of Metallurgical Industries Gamal El-Garhy told Amwal Al Ghad on Monday.

El Garhy noted that the last decision made by Egypt’s Industry Minister to impose protective tariffs on steel imports with 8% for three years is insufficient to prevent imported steel from dominating the Egyptian market.

Moreoevr, El-Garhy added that national industry would be able to met local market’s needs of steel as well as of the national projects on condition of solving lots of problems that it faces such as gas supply and foreign currency deficit.