REG - EZZ Steel Company - Initiation of Anti-Dumping Investigation

Ezz Steel Co SAEAnnouncement

12/08/2024 18:15

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RNS Number : 1542A  EZZ Steel Company - S.A.E.  12 August 2024

 

EZZ Steel Company - S.A.E.

Cairo, 12 August 2024 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD),

 

Ezz Steel received from the European Trade Commission on 8 August 2024 a
Notice of initiation of anti-dumping investigations concerning imports of
hot-rolled flat steel originating in Egypt, India, Japan and Vietnam. The
investigations are initiated based on a complaint submitted by the European
Steel Association (EUROFER).

The complainant is requiring the application of anti-dumping duties on
Egyptian exports -accordingly on the exports of Ezz Steel, being the sole
Egyptian exporter- of hot rolled flat steel to the European Union.

In accordance with the initiated investigations, certain data is required from
each exporter to be submitted in the next few weeks. It is expected that these
investigations will be continued for some time given that the complaint
includes a number of countries, and the information is required with a high
level of detail.

Ezz Steel emphasizes its commitment to fair trade, and its full compliance
with the trade principles stipulated by the WTO. The European Union is
undoubtedly a key market for Ezz Steel's flat steel exports.

Accordingly, the Company will fully cooperate with the EU investigation
authority, provide all the data required, and submit its defences and
arguments to protect its and the Egyptian local industry interests.

 

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