News Global Market Türkiye Print 862 02 July 2024
Turkey, which in early 2024 announced the introduction of temporary safeguard measures on imports of alloy and non-alloy wire rod, will extend them for another three years. This is reported by SteelOrbis. a00 aluminum ingot
According to the changes made to the decision, importers of wire rod will be obliged to pay import duties in the amount of:
In addition, the relevant products originating from developing countries (113 states and customs territories) will be exempt from safeguard measures, but will be subject to quotas.
During the first period of safeguard measures, a quota of almost 33.9 thousand tons will be applied to these countries, and in the second and third periods this volume will amount to almost 67.8 thousand tons.
The quota allocated to each country or customs territory will not exceed 11,299 tons in the first period and 22,599 tons in the second and third periods.
HS codes covered by the measures: 721310000000, 721320000011, 721320000013, 721320000019, 721391100000, 721391200000, 721391410011, 7 21391410012, 721391410013, 721391410019, 721391490012, 721391490013, 721391490019, 721391701011, 721391701012, 721391701013, 721391701019, 721391709000, 721391900000, 721399100011, 721399100013, 721399100011, 721399901019, 721399909000, 722710000000, 722720000000, 722790100000, 72279050 0000 and 722790950000.
Turkey imposed an additional duty of $175 per tonne on imports of alloy and non-alloy wire rod for a period of 200 days as a temporary safeguard measure starting from January 8 this year.
In January-May 2024, Turkey increased steel exports by 48.6% compared to the same period in 2023, to 5.4 million tons. Imports of steel products to the country decreased by 12.1% y/y over 5 months –to 7.1 million tons.
If no changes are made to the reservation mechanism, the situation for steel industry will worsen and negatively affect the entire economy
precision pipe Content publication only with reference to gmk.center Editorial opinion may run counter to author’s opinion