Import duties on a number of steel products were increased by as much as 8% on January 1 in an effort to decrease the level of cheap imports coming from countries such as Russia and Ukraine.
The Turkish government’s change in duties was an effort to support local producers and mitigate the effect of plummeting market prices as a result of widespread contraction in the construction industry.
Under the changes, import duties on hot rolled wide strip increased from 5% to 13%, duty on cold rolled plate was increased from 6% to 14%, and duty on steel plate to 15%, up from the original 7%. Ferrous scrap is still exempt from any import duty.
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