Mar 11, 2021
TURKISH STEEL EXPORTS TO THE EU SEE SHARP DECLINE
2021-05-05
The declining trend in Turkish steel exports seen in 2020 continued in the first month of 2021 as exports to the region declined by 36.6% on year due to EU trade barriers against Turkish steel, Turkish Steel Producers Association (TCUD) said, without citing the tonnages.
“Protection measures in global markets and signs of China’s return to export markets are showing that Turkish steel exporters will face obstacles also this year,” the association said, adding that Turkey’s steel exports to its largest export destination, the EU, which declined 40% in 2020, continued this trend in 2020 due to EU’s protectionist attitudes.
“Turkey should answer these moves with counter measures,” it said.
Turkey has officially started a dumping investigation against hot-rolled coil imports from the EU region and South Korea with a presidential decree published in the country’s official gazette on Jan. 9, 2021, as Platts has reported. The result of the investigation is expected to be announced in the coming months.
The investigation decision was announced just two days after the EU imposed provisional antidumping duties of 4.8%-7.6% on imports of HRC from Turkey.
Despite the decline seen in their export volumes, Turkish steel mills increased their output notably in January, with the support of the rise seen in domestic steel consumption.
According to the latest Turkish Steel Producers Association (TCUD) data, domestic steel consumption in Turkey rose by 15.1% on year to 3.1 million mt in January.
Turkey’s long steel consumption increased especially sharply by 32.9% on year in that month, while flat steel consumption rose by 2.2%.
Turkey’s crude steel output increased by 12.7% on year to 3.4 million mt in January, TCUD data showed.
— Cenk Can
Source: Eurometal
