Turkey has set a dumping margin on hot rolled coil (HRC) imports from China, India, Japan and Russia ranging from 11.65% to 57.75%, according to the Turkish Ministry of Commerce's final report dated August 7 on the country's anti-dumping investigation. began on October 31, 2023.
According to the report, the preliminary dumping margin for the import of hot-rolled coils from China was determined at 20.55%-57.75%, from India - 11.65%-18.26 %, from Japan - 39.20% and from Russia - 16.11%-23.58% depending on the manufacturers.
After receiving the opinions of the relevant parties, the final report on antitrust policy will be submitted to the Evaluation Council unfair competition to make a final decision.
The investigation was launched following a complaint from the Turkish Steel Association on behalf of Turkey's largest steel producers Colakoglu, Erdemir, Isdemir, Habas and Toscelik and covered the period from January 1, 2020 to June 30, 2023
Turkish Steel Association Secretary General Veysel Yayan told S&P Global Commodity Insights that the latest decision by the Ministry of Trade is an important step to prevent unfair competition in the market. He added that imports of low-cost hot-rolled steel, especially from China, have increased significantly in recent years and are affecting capacity utilization and profitability of Turkish factories.
Yayan noted that final dumping margins are expected to take effect after publication in the official gazette shortly after the hearings, which will take place in the coming weeks.
Although total imports of hot-rolled coils into Turkey in the first half of the year fell by 18% year-on-year to 2.37 million tons due to low demand as the country's tightening monetary policy curbs demand, imports from China reached 1.1 million tons, up 10% from the previous year, according to monthly data from the Turkish Statistical Institute (TUIK).
