Turkey has gained an advantage in terms of its steel exports following the US imposition 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 the US, these quotas will fill up and US-based buyers will turn to Turkey. 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 the US by 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 that Turkey benefited from the 25 percent duty on Mexican imports as Mexico is Turkey’s biggest competitor. “Rebar prices in the US are 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 the US even if our prices are only $30/mt below US domestic prices. US-based buyers have to come to us. 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 232 tariffs will also be addressed during the meeting. “We expect the EU to be more reasonable as we will ask them to cooperate against the US. The EU exports to us more than they export to the US. They might accept our offer,” said Namık Ekinci.