Turkey's tariff hike may affect stainless imports from China & Taiwan
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Update time : 2020-09-03 22:34:09
Even with the COVID-19 impact, Turkey's imports of stainless steel in the first half of the year still increased.
Turkey imported 302,000 tons of stainless steel in the first half of the year, a year-on-year increase of 29.3%, most of which were hot-rolled stainless steel.
Based on statistics in the first half of this year, the import volume from South Korea was 92,200 tons, which was the same as last year. In addition, imports from China were around 84,000 tons, three times that of the same period last year. Taiwan exported about 26,300 tons to Turkey, a year-on-year increase of 59%, and Italy also had about 16,000 tons.
As Turkey’s import tariffs that took effect from April 18th to September 30th have risen from 5% to 17%, it was expected that the imports of stainless steel from China and Taiwan will be subject to certain restrictions in the second half of the year, but South Korea and EU countries were excluded.
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