Israel rescinds quotas on Turkish rebar imports

Israel rescinds quotas on Turkish rebar imports

Israel has decided to remove the quotas on rebar imports from Turkey. The quotas were implemented as a result of falling prices due to the strong competition in the market in direct connection with Turkish supply. However, receiving complaints from the Israeli construction industry claiming the rising prices keep narrowing their margins down continously, the Government announced last week the lifting of 225'000 mt quotas on steel imports from Turkey. Local producers claim that removal of quotas will not have serious effect on prices as the Turkish producers, not having exceeded the allowed quota limits so far, might prefer selling less quantities at high prices. It is believed that the quota removal will be temporary and in a six month period of time Israeli officials will review the situation and decide accordingly.