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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