The restrictions will apply to hot-rolled products produced in China, India, Japan and the Russian Federation
Turkey has announced the preliminary results of an anti-dumping investigation into hot-rolled coils originating in China, India, Japan and the Russian Federation. Kallanish reports with reference to the Turkish Ministry of Trade.
Hot-rolled flat products, alloyed and unalloyed, without further processing, were subject to the anti-dumping investigation.
The decision of the anti-dumping investigation was sent to the relevant parties for feedback. After collecting views and claims, the report with conclusions will be sent to the Commission for the Assessment of Unfair Competition in Imports. According to market sources, the hearing is scheduled for August 16, and the final duties will be approved in a few months.
For Chinese producers, the dumping duties will be at the level of 20.5-57.7%, for Indian producers – 11.6-18.3%, for Japanese producers – 39.1%, and for Russian producers – 16.1-23.6%.
The steel industry learned about the likely introduction of duties on hot-rolled steel from China, India, Japan and the Russian Federation in December 2023. The decision was made amid an influx of dumped products, especially from China, into the Turkish market.
As GMK Center reported earlier, Turkey reduced steel production by 4% in 2023 compared to 2022, to 33.714 million tons. The country’s average monthly steel production in 2023 amounted to 2.81 million tons, down 4.04% y/y.
The country’s steel exports decreased by 30.6% y/y – to 10.5 million tons. Export revenue decreased by 40.7% – to $8.3 billion. Steel imports to Turkey in 2023 increased by 15.5% y/y – to 17.1 million tons, while import costs decreased by 6.1% y/y – to $14.6 billion.
There are 29 steel mills in Turkey, including 3 blast furnace mills and 26 electric arc mills. Their annual steelmaking capacity is estimated at about 60 million tons. In other words, in 2023, capacity utilization was 58.5%.
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