Eurofer seeking CVD on Turkish HRC
European steel association Eurofer has filed an anti-subsidy complaint against Turkish exporters of hot-rolled flat steel with the European Commission, alleging that low-priced and subsidised imports are harming the European market.
This is the latest development in escalating trade tensions between the EU and Turkey. The commission began a review of safeguard import quotas and launched an anti-dumping investigation into Turkish hot-rolled coil (HRC) in April, which was not publicly announced until mid-May. Meanwhile, the World Trade Organisation (WTO) circulated a notification this week that Turkey plans to suspend concessions on imports of certain steel products from the EU, including HRC.
In its most recent complaint, Eurofer says: "The injury [from Turkish HRC] resulted from a combination of (a) a surge in subject import volumes from Turkey in the wake of the Turkish crisis, which remained at high levels in recent quarters and had knock-on effects due to stockpiling and then destocking by importers; and (b) low undercutting Turkish prices." As a result, European mills were forced to lower prices to avoid idling units and to remain competitive.
The association said any measures implemented should not prevent Turkish producers from accessing the European market — it pointed to the low duties applied to material from Russia's Severstal as an example — but rather ensure that material is sold at a fair price. It emerged earlier this week that Eurofer is also pushing for a review of Severstal's duties.
In their complaint regarding Turkey, EU mills highlight the fact that Turkey's Eregli Demir — which owns Iskenderun Demir — is controlled by the Turkish government, and is the largest exporter of steel, but they also name Tosyali, Colakoglu, Habas and MMK.
Eurofer has identified 11 countervailable and export subsidies available to Turkish mills that its alleges are prohibited under the WTO subsidies agreement. These include an export freight support programme, export loans, benefits in organised industrial zones, raw materials, electricity and natural gas subsidies, and investment incentives. The association alleges an injury margin of 10-15pc.
source: Argus Media
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