Turkeyhas gained an advantage in terms of its steel exports following theUSimposition of 25 percent tariff on steel imports from the EU, Canada and Mexico with the removal of exemptions, according to a report in Turkish daily Dunya,.
Turkish Steel Exporters’ Association chairman Adnan Aslan said that, while some countries have been given quotas for their exports to theUS, these quotas will fill up andUS-based buyers will turn toTurkey. He added that both his firm İÇDAŞ and other Turkish steel producers have started to receive orders for July. According to Mr. Aslan,Turkey’s exports to theUSby end of this year will be 25 percent higher than last year in terms of value and will be close to 2017 levels in terms of volume. He said the losses incurred in the first couple of months will be recovered in the third and fourth quarters.
Turkish Steel Federation chairman Namık Ekinci said thatTurkeybenefited from the 25 percent duty on Mexican imports as Mexico isTurkey’s biggest competitor. “Rebar prices in theUSare nearing $900/mt, Turkish rebar is currently at $550/mt and is still below $900/mt after duties and freight costs. We are still competitive in theUSeven if our prices are only $30/mt belowUSdomestic prices.US-based buyers have to come tous. We are already receiving orders,” Ekinci added.
Meanwhile, Turkish Steel Exporters’ Association board members are meeting with EU officials in Brussels on June 7 to discuss the safeguard duty investigation launched by the EU.Section 232tariffs will also be addressed during the meeting. “We expect the EU to be more reasonable as we will ask them to cooperate against theUS. The EU exports tousmore than they export to theUS. They might accept our offer,” said Namık Ekinci.