Turkey enforces a 3.95% anti-dumping duty to safeguard its stainless steel sector, fostering local production and investment opportunities.
The Ministry of Trade has implemented a definitive anti-dumping duty of 3.95% on imported stainless steel products. This decision follows an application from representatives of the stainless steel sector, who have long struggled against the influx of foreign-origin dumped products that have hindered domestic production.
In a statement published in the Official Gazette, Haluk Kayabaşı, CEO of Kibar Holding, expressed optimism about the decision, stating, “We see this measure as the first step towards creating a fairer competitive environment for domestic producers. It is essential for preventing significant losses in our sector, and we believe more supportive actions will follow.”
The Ministry of Trade justified the anti-dumping application, highlighting that low-priced and low-quality products imported from China and other Far Eastern countries have created unfair competition in the domestic market. The newly imposed duty aims to establish equal conditions for competition within the iron and steel sector, providing a much-needed lifeline to the Turkish economy.
Kayabaşı emphasized that proactive measures against dumped imports will pave the way for new investments. He noted, “Stainless steel is a strategic input for many high value-added sectors, including automotive, healthcare, food, energy, kitchenware, and defense. The dumped prices from Asia disrupt our domestic market and weaken the investment capacity of local producers. These sanctions will create a strategic shield for domestic producers and support sustainable growth in the stainless steel sector.”
He further explained the potential impact of the 3.95% anti-dumping duty: “Currently, domestic production meets only one-third of the increasing industry needs. Turkey's annual consumption of cold-rolled stainless steel is around 400-450 thousand tons, with imports accounting for about 80% of this demand. Together with other domestic producers, we have the capacity to meet 90% of the total domestic market demand. Strengthening local production is crucial for reducing the current account deficit and achieving strategic independence in our industry.”
Kayabaşı concluded, “Following the implementation of these anti-dumping measures, I believe our production will significantly increase, leading to higher capacity utilization rates and lower production costs. Most importantly, this will boost employment and workforce opportunities. As investment appetite revives, Turkey’s competitiveness will enhance. The robust industrial ecosystem supported by our Ministry will ensure that investments become permanent and that value-added production flourishes. Turkey is becoming increasingly visible in global competition with its growing industrial capabilities, and stainless steel is a key sector in this journey.”
Source: www.denizhaber.com
