Moroccan authorities have begun the procedure to evaluate the extension of existing duties on the imports of cold rolled coil and hot-dip galvanized coil, Kallanish learns from a statement.
The duty extension has been requested by Maghreb Steel, the sole supplier of such products in Morocco. The procedure will be initiated at the end of July in order to come up with a decision before the end of the year, when the measures currently in place are set to expire.
Maghreb Steel notes in its request that if the measures are not extended, the market will be flooded by imports due to increasing global capacity and new trade barriers imposed by major global players.
The measures currently in place were introduced in August 2015. They consist of an import duty on all imports of CRC, pre-painted steel and HDG above the 36,000 tonnes of annual duty-free quotas. The duties are currently at 16%, having been reduced each year from the initial 22% as per the system created by Moroccan authorities.