The Moroccan Ministry of Industry and Commerce announced the protective duties extension on hot-rolled steel imports. The decision came after a review investigation that started on January 26, 2023, at the request of the Moroccan Steel Company, the sole flat steel producer.
The Moroccan Steel Company stated in its complaint that although the damage caused by imports of the product in question had begun to mitigate, it had not been fully resolved.
The company stressed that there had not been any notable progress made since the preventive measures imposition and expressed its inability to withstand competitive pressures from imports.
The company further noted that without preventive measures, the pressure from imports could increase due to the global increase in steel production capacity and protection measures implemented by other countries to protect their domestic producers.
According to the decision, the regulatory authority extended the safeguard, imposing an ad valorem fee of 23 per cent for three years until June 18, 2026, and the additional reduction of 1 per cent per annum will be applied during the period.
Previously, on June 19, 2020, Moroccan authorities imposed a final duty of 25% on hot-rolled steel imports, which lasted for three years.