Synopsis:
Turkey has decided to continue its antidumping duties on heavy plates imported from China. The Ministry of Trade has found that removing these duties could lead to further dumping. The current rates are 16.89% for Jiangyin Xingcheng Special Steel Works Co. Ltd and 22.55% for other Chinese producers.
Article:
Turkey's Ministry of Trade has concluded its sunset review on the antidumping duty applied to heavy plates coming from China. The Ministry has determined that lifting these duties would likely lead to a continuation or even an increase in dumping activities.
In terms of the cost, insurance, and freight (CIF)-based prices, the antidumping rates are holding steady. Jiangyin Xingcheng Special Steel Works Co. Ltd is subject to a 16.89% rate, while all other Chinese producers face a higher rate of 22.55%. These percentages are calculated in dollars, ensuring a unified currency basis for the evaluation.
The imposition of these antidumping duties is not a new development. It is a part of Turkey's ongoing efforts to safeguard its domestic steel industry from unfair trade practices. Local producers have been concerned about the influx of cheap heavy plates and the impact it could have on their businesses.
This decision to maintain the antidumping duty comes at a crucial time. China's steel production capabilities have been under scrutiny for some time now, and other countries are also watching closely as they consider similar measures to protect their domestic industries.
Notably, the global steel market is highly competitive and is affected by various international trade policies. Countries like the United States and members of the European Union have also imposed antidumping and countervailing duties on steel products from various countries, including China.
While the continuation of these duties will offer some protection to Turkish steel producers, it also complicates Turkey's trade relations with China. Diplomacy will play an essential role in navigating the fine balance between fair trade and fostering good international relations.
Conclusion:
The decision to continue with the antidumping duty on heavy plates from China signifies Turkey's commitment to protect its domestic steel industry. While this move might strain trade relations between Turkey and China, it is seen as a necessary step to prevent unfair trade practices and dumping in the local market.
