Jan 04, 2022
Turkey cuts import duty on CR stainless sheet
2022-07-04
Turkey decreased its duty on imports of cold-rolled stainless sheets to 8% from 12% effective Jan. 1 2022, according to a decree published in the country’s Official Gazette.
The tariff does not apply to countries, such as those of the EU, with which Turkey has a free trade agreement.
These products are classified under HS codes: 721931000000, 721932100000, 721932900000, 721933100000, 721933900000, 721934100000, 721934900000, 721935100000, 721935900000, 722020210011, 722020290011, 722020410011, 722020490011, 722020810011, and 722020890011.
Turkish mills’ overall stainless steel imports in widths above 600 mm totaled 531,000 mt in the first ten months of the year, 100,000 mt higher on the year, according to the latest Turkish Statistical Institute data observed by S&P Global Platts.
The cost of these imports rose to $1.14 billion in that period, 44.5% higher on the year due to globally higher pricing.
China was Turkey’s top stainless steel supplier at 207,800 mt, 86% higher on the year, while South Korea, became Turkey’s second largest stainless steel supplier in the 10-month period of 2021 at 111,800 – 20,000 mt lower on year.
Around 25% of these imports were stainless hot band, most of which is used as feedstock by Turkey’s sole stainless cold rolling mill, Posco Assan.
Posco Assan TST, based in Izmit, Kocaeli, near Istanbul, has production capacity of 300,000 mt/year of 0.3-3.0 mm thick stainless cold-rolled coil up to 1,600 mm wide.
— Cenk Can
Source: Eurometal
