IDDMIB: Turkey must revoke antidumping duty on stainless steel

Tuesday, 02 January 2024 16:38:24 (GMT+3)   |   Istanbul
       

Fikret Kaya, member of the supervisory board of the Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB), has stated that the eight percent antidumping duty on stainless steel, which is mainly produced in the Far East and a major raw material used by Turkey, must be revoked and that Turkey should produce its own stainless steel to replace imports.

Saying that the duty on stainless steel reduces Turkey’s competitiveness - the third largest stainless steel user in Europe - against Asian producers, Mr. Kaya emphasized that cost calculations are made based on raw materials and that it is very important that the main raw materials should be produced locally.

Pointing out that Turkey exports scrap and ferrochrome cheaply, Kaya stated that, if ferrochrome is used in the domestic market, Turkey will be competitive in export markets by providing an added value of 24 percent in the cost of stainless raw materials alone. Stainless steel consumption capacity in Turkey has increased to approximately 550,000 mt, stainless steel should be produced locally in order to prevent imports. Kaya stated that at least three stainless steel production plants should be built in Turkey, in line with developed countries.


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