Mubasher: Saudi-based Rajhi Steel Industries Limited (Rajhi Steel) has begun exporting the first iron shipment to Egypt since the Egyptian government announced the preliminary anti-dumping decisions last year.
Al Fajr Steel Building Materials Company has contracted with Ahmadi Construction Materials to buy 10,000 tonnes of iron from Rajhi Steel at $610 per tonne, chairman of Al Fajr Steel in Egypt Wael Said told Alborsa News on Thursday.
The shipment has already reached Al Adabiya port on the Red Sea, he added.
Rajhi steel aims to export 10,000 tonnes of iron a month to Egypt, Wael indicated, noting that the company would sell iron of its first shipment to the North African nation at a price ranging between EGP 12,400 and EP 12,450 per tonne.
Egyptian trade minister had imposed temporary tariffs on steel rebar imports from China, Turkey, and Ukraine in mid-2017 to combat dumping.
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