201 proves positive for Erdemir
Market sources advise that one of
Turkey's largest steel firms,
Erdemir, is fully booked for exports for second quarter and reportedly receiving $250/ton FOB for hot rolled coil to its U.S. customers. Since
Turkey is exempt from Section 201 import tariffs on all steel products except
rebar,
Erdemir has the clear advantage.
The reason is due to runaway prices in the U.S., market sources at
Erdemir reported. Currently, the firm is quoting two prices; one for its U.S. clientele and a second lower price for other customers.
Since
Turkey is considered a developing nation, its share of the U.S. market with less than 3% keeps it under the exempt category. Market sources do not expect
Erdemir to increase its quantity to the U.S. as it prefers to stay below the 3% quota.