Veysel Yayan, Secretary General of the Turkish Steel Producers Association, said that the latest regulations in the iron and steel sector could affect the production of 5.5 million tons of flat steel. “By controlling imports, Türkiye will be able to achieve a balance of more than 2 billion dollars and will have the chance to improve its current account balance,” Yayan said.
Yayan also welcomed the decision to impose anti-dumping duties on iron and steel imports from four countries - China, India, Japan and Russia - on Bloomberg HT. Noting that China accounts for about 55 percent of the world's steel production, Yayan said, “A 1 percent contraction in China leads to an extra 10 million tons of products being released to the world markets, which creates a serious competitive pressure in international markets.”
In 2023 and 2024, the increase in China's steel exports has become a threat to countries like Türkiye in global markets. “China's exports are expected to increase from approximately 94 million tons in 2023 to 120 million tons in 2024,” Yayan said.
Emphasizing that measures similar to Türkiye's have already been taken around the world, Yayan said that the decisions taken by Türkiye by making the best use of this situation are important. In the regulation published in the Official Gazette, it was announced that dumping duties will be imposed on iron and steel imports originating from China, India, Japan and Russia at rates ranging from 6.10 percent to 43.31 percent of the CIF value according to the producers in these countries.
Yayan stated that these measures will contribute to maintaining the balance in the sector and reducing imports to a reasonable level.
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