EU imposes anti-dumping tax on Turkish steel
The European Commission introduced anti-dumping duties on imports of some Turkish iron and steel products.
The provisional duties, ranging from 4.8 percent to 7.6 percent of imported value, will be imposed on hot-rolled flat products of iron, non-alloy or other alloy steel originating from Turkey, the commission said in the European Union’s official journal on Thursday.
Erdemir, İşdemir, Borçelik Habas and Çolakoğlu Metalurji were among the companies affected. An anti-dumping duty is a protectionist tariff levied on imports believed to be priced below fair market value.
“Provisional measures should be imposed to prevent further injury being caused to the union industry by the dumped imports,” the commission said in its reasoning. Orders for steel in Europe have slumped during the COVID-19 pandemic.
The EU opened an investigation into whether Turkey was dumping hot-rolled flat steel products in May, responding to complaints from the European Steel Association (EUROFER). Turkey is among the leading exporters of finished steel products to Europe. In December, the commission informed relevant companies that the probe found that dumping had occurred.
The Turkish firms affected by the duties will appeal against the decision individually, Veysel Yayan, head of the Turkish Steel Producers Association (TÇÜD), told the Dünya newspaper.
The European Commission warned early last year that the coronavirus pandemic could lead to massive stockpiling of steel that could then flood the EU when demand returns.