(Bloomberg) --
Turkey announced anti-dumping levies on flat steel imports, saying that shipments from European and South Korean companies were hurting domestic producers.
Levies on imports will range from 7% to 12.8% of the purchase price, according to a Trade Ministry decree published in the nation's official gazette. The decree cited steelmakers including ArcelorMittal SA, Tata Steel Ltd., Liberty, Thyssenkrupp AG, Posco and Hyundai Steel.
“Foreign companies have been cutting prices significantly while exporting to Turkey,” said Veysel Yayan, secretary-general of the Turkish Steel Producers Association. “This practice disrupts the market.”
The new levies follow an investigation into trade between October 2019 and September 2020, when flat steel imports totaled $2.05 billion, according to the Trade Ministry. Average import prices fell to $473 a ton in that period, from $624 per ton in 2018.
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