Namık Ekinci, Chairman of the Turkish Steel Exporters' Association (ÇİB), said that because the EU set up final safeguard measures, the rebar from turkey to the EU countries might decline more than 60%.
Ekinci mentioned that due to weak demand in the market, Turkish steel manufacturers lost many market shares in Middle East and the US, as well as cut the production in the last few months of the end of 2018. Besides, the import quotas from the EU might cause Turkish steel production went down again.
Ekinci also said that Turkish steel industry suffered from the weak domestic demand and the negative effect of section 232. Furthermore, the US government carried out the sanction on Iran and stopped other countries to have any business with Iran, which also impacted Turkish steel industry.
Therefore, the EU countries, the biggest market for Turkey, set up the import quotas and Turkey might loss more market shares, as well as face more serious problems in the future.
Source from Yieh Corp |
