Turkey has postponed a planned increase in tariffs on imports of flat products until May 1, as announced in the country's official gazette on Friday.
The trip was originally scheduled for the end of February, but was postponed due to earthquakes on February 6 .
At least two large apartment producers located in earthquake-affected areas were temporarily out of service, and for those who lost their homes, there was a need for containerized housing.
The current decision is expected to have a significant impact on the flat steel market in the country, as market participants expect another delay until June 1.
Turkish flat steel has recently been uncompetitive in export markets due to high production cost.
According to Kerem Çakir, chairman of the Turkish Cold Rolled, Galvanized and Coated Coil Manufacturers Association (SOGAD), it is more important to help Turkey's flat steel industry to increase its export capacity than to raise import duties .
According to market participants, Turkish producers expect cost reductions of about $20 per ton due to lower electricity and gas tariffs from April 1.
To ensure exports, prices for Turkish hot rolled coil should be around US$760-770 per tonne fob for the EU market compared to the current nominal export price of US$810-830 per tonne fob Turkey.
Turkish domestic factories offer hot rolled coils to local buyers at $820-850 per ton ex-works.
After the tragic earthquakes in February, Turkish customers immediately ordered large import volumes of flat products, including plate, HRC, cold rolled coil and galvanized steel. However, the current general attitude of Turkish flat steel buyers is “wait and see”, with no interest in new imports.
