The EU has reportedly announced a reduction in the provisional anti-dumping (AD) duty on certain hot-rolled flat products of iron, non-alloy, or other alloy steel products originating from Egypt, lowering the rate from 15.6% to 12.8%.

Egyptian producer Ezz Steel protested on grounds of its low export share, exchange rate differences, and overestimated freight costs. Egypt noted that its hot-rolled flat steel products exports account for only 1.3% of the EU's open market, with domestic capacity unchanged for years, making the original 15.6% tariff overly punishing.

The reduced temporary tariff took effect on April 7, and a final determination will be made in the coming months.