Turkish crude steel production limited by EU's import quotas
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Update time : 2020-08-20 19:09:25
Turkish Steel Producers' Association (TCUD) stated that the consumption of Turkish finish steels from January to June this year increased by 8.7% year on year, while crude steel production decreased by 16.3% compared with the same period last year due to reduced exports limited by the import quota policy in the EU markets.
The European Commission implemented quota controls on certain steel items in February 2019 and then cut some quotas in October 2019. Subsequently, the Commission strengthened the existing safeguards in its second review on June 20, 2020.
From January to June 2020, Turkey exported 9.9 million tons of steel, down by 11.3% year on year, but it imported 1.4 million tons of steel during the same period, an annual increase of 59.8%.
