Dec 30, 2020
TURKEY’S HRC DUMPING PROBE TO INCLUDE IMPORTS FROM S KOREA AS WELL AS EU: CEO
2021-01-15
A dumping investigation by Turkey into imports of hot-rolled coil from the EU will also extend to South Korea, which increased its deliveries to Turkey significantly throughout 2020, according to Ugur Dalbeler, CEO of key Turkish steel producer Colakoglu.
Although no official announcement on the investigation has been made, two top Turkish steel industry executives told S&P Global Platts that the Trade Ministry had already informed the relevant parties, including the European Commission.
A decree relating to the investigation is expected to published in Turkey’s official gazette in the next few days following presidential approval.
“Following the review, our Trade Ministry has decided to open a dumping investigation and has made the necessary declaration to the EU,” Dalbeler, who is also vice chairman of the Turkish Steel Exporters’ Union (CIB) told Platts. “This investigation will also involve HRC imports from South Korea.”
The EC had no official comment.
The EC said Dec. 17 that it has decided to impose an antidumping duty of 4.8%-7.6% on imports of Turkish HRC. The duties will be imposed on a provisional basis on Jan. 14 and will be valid for six months, which is expected to limit exports to the region by Turkish mills. Definitive duties are scheduled to be set by July 13.
The Turkish Steel Producers Association (TCUD) has previously called upon the Turkish government to impose similar counter-measures on steel imports from the EU, arguing that quotas and trade investigations had already notably reduced exports of HRC by Turkish mills to the EU, their main export market, while imports from the EU remained strong.
Turkey imported around 1.3 million mt of HRC from the EU in the first 10 months of 2020, relatively unchanged year on year, while HRC imports from South Korea reached 262,000 mt over the same period, well above the 64,000 mt imported in the same period of 2019, according to Platts calculations based on the most recent data from the Turkish Statistical Institute.
— Cenk Can
Source: Eurometal
