The Turkish Trade Ministry will probably decide on trade measures against the EU based on the principle of reciprocity, following the European Commission’s expected review of steel quotas, a Turkish producer executive told Platts Monday.
Another executive of a major Turkish producer, however, said that as no notable developments happened regarding reciprocal duties for a long time, despite some statements in this regard, it is hard to make a comment currently.
Turkish mills were holding negotiations with the Turkish Trade Ministry over potential action against the EU, based on the principle of reciprocity, as reported.
Turkish Trade Minister Ruhsar Pekcan, who held negotiations with EC Trade Commissioner Phil Hogan in Brussels said in the last days of 2019 that the EC may bring forward the review date of the quotas on Turkish steel to as close as the first quarter of 2020.
“This review could be as soon as January 15,” a producer executive told Platts Monday, adding however that he is not very optimistic about a positive development regarding the steel quotas amid some EU producers’ contrary efforts.
European steel association Eurofer called on the EC in mid-December to “have another go at reviewing the steel safeguard” in light of continuing high import levels into Europe and sustained global steel production overcapacity.
According to the latest data from Eurofer, Turkish imports declined by 22% month on month in October, amid quotas, but the country remained the top supplier of origin for European steel imports, with a 16% market share.
The Turkish Economy Ministry, which launched a steel safeguard investigation into steel imports a year ago, ended the investigation at the beginning of May 2019 without taking any action.
— Cenk Can