Turkey levies HRC anti-dumping duties on four countries

Turkey's ministry of trade announced that it is implementing anti-dumping duties on Chinese, Indian, Russian and Japanese hot-rolled coil (HRC) ranging from 6.10-43.31pc, effective immediately.

Turkey had launched an investigation that found imports from China, India, Russia and Japan have damaged domestic production. The anti-dumping duty will be paid as a percentage of the CIF value, in addition to the existing 13-15pc tax on steel products for local consumption.

The investigation was launched just under a year ago after a petition was submitted by Turkish steelmakers' association TCUD on behalf of producers Colakoglu, Erdemir, Habas and Toscelik.

Turkish customers, though, remain exempt from the measures if products are imported using the inwards processing regime, with a promise to process and re-export the finished product.

Turkish authorities are currently considering the option to change to the inward processing regime measure.

"Right now, 84pc of the exports are import-dependent," a re-roller told Argus in August. "If you prevent the inward processing regime, imports will be cut, which will negatively affect exports."

Turkish mills withdrew their HRC offers today, some market participants said.

By Carlo Da Cas