According to the Turkish Steel Producers' Association (TCUD),
Turkey's customs duty for
iron ore imports has been removed with the 2015 import regime published in the Official Gazette dated December 31.
The customs duty for imports of
iron ore, which is the main
steelmaking raw material, had been at one percent.
The TCUD said that
iron ore imports accounted for 60 percent of
Turkey's
iron ore consumption. In 2014,
Turkey imported 8 million mt of
iron ore, valued at $1 billion. The removal of the customs duty is expected to provide savings of $10 billion for the domestic steel industry.