Turkey's Steel Exporters' Association (CIB) chairman Namk Ekinci stated on January 7 that the UAE will maintain its five percent import duty on rebar for rebar cutters and benders according to the announcement made by Dubai's official trade office in Turkey.
Mr. Ekinci noted that the inaccuracy of rumors of a cancellation of the import duty in question was also confirmed by officials of the UAE Ministry of Economy, adding that local UAE cutters and benders will be under strict control amid reports of some illegal practices, while no change will be made to the existing import duty.
Expectations of an import duty exemption for rebar cutters and benders had spread since late H1 2012. Dubai, one of Turkey's major rebar markets, usually imports about 80,000 mt of rebar from Turkey each month, of which almost 75 percent is bought by cutters and benders in the country.