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Turkey's wire rod imports decrease in H1 2024 y-o-y
In a bid to protect domestic companies from low-priced imports, Turkey's Ministry of Trade implemented a temporary safeguard measure on December 31, 2023. On June 30, 2024, these measures were extended through a presidential decree, establishing a final safeguard that will be in place for three years, expected to continue limiting import volumes.
During the first half of 2024, Turkey's wire rod imports (HS Code 7213) dropped by 53% year on year to 188,000 tons, reflecting the effectiveness of the safeguard measures. Despite a 70% year-on-year decrease, Russia remained Turkey's top wire rod supplier, with about 29,000 tons exported in the first half of 2024.
The Turkish Steel Producers Association has urged the government to apply similar measures to other steel products, arguing that the dumping of low-priced imports threatens the survival of local steel mills. The association calls for stronger government actions to counter unfair competition from foreign imports.
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During the first half of 2024, Turkey's wire rod imports (HS Code 7213) dropped by 53% year on year to 188,000 tons, reflecting the effectiveness of the safeguard measures. Despite a 70% year-on-year decrease, Russia remained Turkey's top wire rod supplier, with about 29,000 tons exported in the first half of 2024.
The Turkish Steel Producers Association has urged the government to apply similar measures to other steel products, arguing that the dumping of low-priced imports threatens the survival of local steel mills. The association calls for stronger government actions to counter unfair competition from foreign imports.
Back to Steel News
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