GCC to hold steel safeguard hearing this month

The Gulf Co-operation Council (GCC) Technical Secretariat of Anti-Dumping (TSAIP) will hold a public hearing on imposing safeguards on imports of a variety of steel products on 21 July.

The TSAIP released a document calling on participation in the public hearing process to members of the steel industry across the GCC region. A form must be submitted at least seven working days before the hearing, which will be held virtually to comply with Covid-19 restrictions.

The investigation was opened in October last year and includes flat products, long products, angles and pipes.

Since then, the steel industry in the GCC region has faltered amid a drop in oil prices and coronavirus concerns. Public budgets have been slashed and infrastructure spending on public and private projects has stalled. Steelmaker Emirates increased rebar prices for July delivery to 1,773 dirhams/t ($482.75/t) ex-works but this increase is unlikely to be accepted by a struggling downstream market, traders in the region said.

By Sara Warden