Turkey announced the introduction of anti-dumping duties on the import of flat products, saying that the supplies of European and South Korean companies are detrimental to domestic producers.
Import fees will vary from 7% to 12.8% of the purchase price, according to a decree from the Ministry of Commerce, published in the official gazette of the country.
The decree mentions steel producers, including ArcelorMittal SA, Tata Steel Ltd., Liberty, Thyssenkrupp AG, Posco and Hyundai Steel.
“Foreign companies are significantly reducing prices when exporting to Turkey,” said Veysel Yayan, general secretary of the Turkish Steel Association. “This practice undermines the market.”
The new fees followed an investigation into trade between October 2019 and September 2020, when imports of flat products totaled $2.05 billion, according to the Turkish Ministry of Commerce.
Average import prices fell to $473/ton during this period from $624/ton in 2018.