Stainless steel cold plate import tariff in Turkey reduced by 4%, good for Chinese exports
Turkey has revised its import tariff on cold-rolled stainless steel plates from 12% to 8%, effective January 1, 2022, according to a statement published in Turkey’s official gazette, foreign media reported.
The tariff numbers are:
7219.31.00.00.00, 7219.32.10.00.00 7219.32.90.00.00, 7219.33.10.00.00 7219.33.90.00.00, 7219.34.10.00.00, 7219.34.90.00.00, 7 219.35.10.00.00, 7219.35.90.00.00 7220.20.21.00.11, 7220.20.29.00.11 7220.20.41.00.11, 7220.20.49.00.11, 7220.20.81.00.11, and 72 20.20.89.00.11.
Firstly, Turkey stainless steel cold rolling production situation
Posco Assan TST, the only stainless steel cold rolling plant in Turkey, is headquartered in Kokaelizmit, near Istanbul, with an annual production capacity of 300,000 tons/year for stainless steel cold rolling with thickness of 0.3 to 3.0mm and width 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% depends on imports.
Secondly, the amount of imported Chinese stainless steel cold plate has doubled
Since 2021, due to the complete and stable supply chain of Chinese stainless steel, and 304 cold rolling price advantage is obvious, the volume of exports to Turkey has doubled year-on-year.
According to customs data, from January to November 2021, the cumulative volume of stainless steel cold plate exported from the Chinese mainland to Turkey was about 194,600 tons (about 24.8% of the total export volume), up 109,100 tons year-on-year or 127.7%.
Since July, the quantity has been on a straight rise, averaging 24,800 tons per month, compared with 11,700 tons per month in the first half of the year, an increase of 111.2%.
Lastely, the impact of lowering the import tariff of stainless steel cold plate
It is reported that China, South Korea, Spain, Indonesia, Italy, Vietnam, India and other countries are Turkey’s main stainless steel supply regions.
It is understood that Turkey has signed free trade XY with the European Union, South Korea and other countries, with zero import tariffs on products from these regions.
This time, Turkey lowered the import tariff of 4% cold rolled stainless steel plate, which will benefit China, Indonesia, Vietnam and India and other stainless steel cold plate exports to the region, while South Korea, Spain and Italy’s share may be squeezed.