Turkey has postponed the increase in duties on imports of flat rolled products


The new rates will come into force on April 1, 2023

Turkey has postponed the increase in customs duties on imports of flat rolled products until April 1 of this year. This is reported by SteelOrbis with reference to the Official Gazette of the country.

The increase in import duties was planned from March 2023. The Turkish market was expecting this postponement, as the rollers received good demand associated with overcoming the consequences of earthquakes. At the same time, a possible postponement of the increase for a period of three months to six months was discussed.

According to forecasts, the postponement of the increase in import duties will not lead to additional purchases. Currently, there is no flat rolled products available on the global market for deliveries until April 1, the best option for new deals is May.  At the same time, this step will allow buyers to receive previously booked cargo at the current duty rates.

Turkish steel mills are gradually resuming production after the earthquakes, but the supply of steel products in the domestic market is still insufficient.