After the US doubled the additional customs duties on steel and aluminum imports from Turkey, the Turkish steel exporters have started to explore new markets and turned towards Far East and South America markets in order to make up for their losses, according to a report from Anadolu Agency.
Yalçın Ertan, chairman of the Aegean Ferrous and Non-Ferrous Metals Exporters Association, has stated that steel exports to Far Eastern and South American countries have increased in recent months. In particular, Turkish steel exports to Brazil rose by 159 percent year on year to $30 million in the January-July period of this year, with exports to countries such as Honduras, Paraguay and Panama also increased significantly in the same period. Mr. Ertan pointed out that because China is focused on its domestic market, there is a window of opportunity in the Far Eastern market for Turkish exporters.