EU imposes definitive AD duty on HRC from Turkey

Monday, 26 April 2021 16:33:28 (GMT+3)   |   Istanbul
       

The European Commission has announced definitive antidumping (AD) duty on hot rolled flat products of iron, non-alloy or other alloy steel (HRC) imports from Turkey.

The definitive antidumping duties on the given products are at 4.7 percent for Habaş Sinai ve Tibbi Gazlar İstihsal Endüstrisi A.Ş., 4.9 percent for Erdemir Group, 7.3 percent for Çolakoğlu Metalurji, 5.6 percent for Ağır Haddecilik A.Ş. and Borçelik Çelik Sanayii Ticaret A.Ş., and 7.3 percent for other companies, effective as of July this year.

The review started on May 14, 2020, following the complaint by the European Steel Association (EUROFER), and the provisional antidumping duties were announced in January.

In January this year, the European Commission had imposed provisional antidumping duties ranging between 4.8 percent and 7.6 percent on the given product imports from Turkey, as SteelOrbis previously reported.

As a result, despite the minor decrease seen in the definitive rates versus the earlier announced provisional ones, Turkish mills will still to a certain extent be restricted in their sales to the EU. India is considered to be the key competitor for medium and large sales volumes, taking into account that the Indian mills are not restricted by the import tax. Still, Turkey has the advantage of geographical proximity and will remain one of the key import sources for the EU in terms of HRC. It is also worth mentioning that the market awaits the EU decision on the safeguard measures, i.e. the import quotas. “I do not think the quota system will be abolished or significantly increased for Turkey since the relations with the EU are still tense. However, supply in the EU is tight and prices are crazy, so something needs to be done,” a trader told SteelOrbis.


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