Erdemir shares increased after anti-dumping decision

Erdemir shares, which were trading around TL 27.70 at approximately 11:00 AM yesterday, attracted strong demand following protectionist measures designed to favor domestic producers. Today at the same time, the stock reached TL 29.00, up 4.69%, and by 11:41 AM, continued buying pushed it further to TL 29.18.

Market analysts attribute the rally primarily to the Ministry of Trade’s completion of the anti-dumping investigation targeting Chinese and South Korean producers. In particular, the expected reduction in domestic pressure from low-cost Far East imports is likely to have a positive impact on Erdemir’s capacity utilization and profit margins.

During intraday trading, the stock, which opened at TL 28.92, hit a high of TL 29.28. The company’s market capitalization reached TL 204.40 billion, with the share showing a recovery trend toward its 52 week high of TL 32.72.