How did the decision to postpone the customs duty on iron and steel products affect the flats market?

According to the President's decision published in the Official Gazette dated February 26, the effective date of customs duties, which are regulated according to the countries of origin of alloyed or non-alloyed iron and steel flat rolled products, was changed to 1 April.

This situation did not meet the market's expectations. The steel market was talking about postponing the import tax until the second half of the year due to problems such as the big earthquake affecting 11 provinces in Turkey, damage caused to containers, port fire, supply and retention crises and force majeure, and thus creating demands.

According to the agreements on export and import links, the earliest import date appears to be May. However, for the existing agreements, the old tax rates will be used, which will not cause any victimization. Companies whose imports are not realized due to the failures experienced will be considered exempt from the new rate.

The import tax rate, which will enter into force on April 1, is included in the following table;