Turkey imports more stainless steel in 2021

According to the Turkish Statistical Institute (TUIK), Turkey’s stainless steel imports, under HS codes 7219 to 7220, totaled 755,000 tons in 2021, hiking by 24.8% compared to the previous year. The increase was mainly due to increased domestic demand and China’s competition of low prices.

In 2021, Turkey’s stainless steel import value was USD 1.68bn, a year-on-year increase of 54%. The imports from China occupied the largest share, totaling roughly 290,000 tons, up by 81% year on year.

Turkey has lowered the import tariff on cold-rolled stainless steel sheets from 12% to 8% since this year, which meant that the domestic demand has hiked. This tariff does not apply to countries that have free trade agreements with Turkey, such as the EU countries.

 

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