Zawya reported that the United Arab Emirates has announced a 5% import duty on all Turkish reinforcing bar effective from January 5 without exemption, a move that effectively blocks one of Turkey's largest seaborne export markets for the product
As per report “The move will include all January arrivals, with one shipment understood to be due to arrive on January 13 from a Turkish EAF producer.”
The report added that reinforcement fabricators in the UAE were exempt from import duty if they processed the steel arriving in Jebel Ali through cutting or bending, but now all importers are included under the January ruling.
The report also said that Emirates Steel Industries, the largest local steel producer, is understood to be considering a hike of nearly 5% for January rebar output on the back of the import duty.
