According to a statement issued in the Turkish official Gazette, Turkey has changed the import tariff on cold-rolled stainless steel plates from 12% to 8%, effective January 1, 2022.
Turkey's only stainless steel cold rolling mill Posco Assan TST, is headquartered in Kocaeli Izmit, near Istanbul, with an annual production capacity of 300000 tons / year, stainless steel cold rolling of 0.3 to 3.0mm thickness and a width of up to 1600mm. It is understood that Turkey's annual demand for stainless steel is as high as more than 700,000 metric tons, of which 75% rely on imports.
It is reported that China, Indonesia, Spain, Italy, South Korea, France, Finland and Germany will become the main suppliers of stainless steel cold plate imports from Turkey in 2021. Turkey has signed free trade XD, with the European Union and South Korea. The import tariff on products from these regions is zero, which accounts for about 36 per cent of the initial statistics. After Turkey reduced import tariffs on cold-rolled stainless steel plates by 4%, China and Indonesia may occupy market shares such as the European Union and South Korea at low prices.
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