Turkish media reported that Turkey has imposed up to 14% additional duties on several types of steel imports to prevent a rise in steel imports into the country. As per reports “Imports of hot-rolled flat steel will be subject to 14% additional import duty until 30 September 2020, while a 10% additional import duty will be applied to cold-rolled flat steel and . 10%-11% additional import dutyon alloy steel wires, tubes and pipes.
These rates are set to be reduced in October, with the additional duty on hot-rolled flat steel decreasing to 9%, down from the initial 14%. Cold-rolled flat steel will be subject to a 5% additional import duty, down from 10% and alloy flat steel imports will be subject to a 6% import duty down from 11%. Alloy steel wires, tubes and pipes will be subject to 5% additional duty in October, down from 10%.
Turkey’s flat steel imports between January and March 2020 totalled around 1.821 million tonnes. These figures represent an increase of 24.73% from the 1.460 tonnes imported in the first quarter of 2019