Turkey Slaps Duties On Russian Steel Products
Date
10/12/2024 10:08:42 AM
(MENAFN- UkrinForm) Turkey has imposed anti-dumping duties on imports of certain steel products from Russia, China, India and Japan.
That's according to Daily Sabah , referring to the Official Gazette, Ukrinform reports.
Chief of the Turkish Steel Manufacturers Association (TÇÜD) Veysel Yayan said the duties cover nearly 4 million tons of imports with an estimated value of up to $2.2 billion.
Duties range from 6.10% to 43.31% of cost, insurance, and freight prices, a move to prevent unfair competition following complaints from domestic manufacturers, the announcement said. An investigation into hot-rolled flat steel imports, following an appeal by Turkish producers, found that domestic output was at risk over alleged dumping.
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According to the decision, duties on imports from China range from 15% to 43%, from Russia, India and Japan – from 6% to 9%.
Yayan expects an increase in the level of capacity utilization by domestic producers after duties were imposed on the imports of hot-rolled flat steel.
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Ankara's decision came amid growing trade tensions between China and the European Union over tariffs on electric cars, clothes, and other goods. It also follows China's complaint to the World Trade Organization (WTO) over import duties imposed on Chinese electric vehicles imported into Turkey.
As Ukrinform reported earlier, in September, one of the largest Taiwanese coal importers - Taiwan Cement Corporation (TCC) - announced full termination of cooperation with Russia.
Photo: HRC
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