TMS Tanker Conference 2018The Maritime Standards Awards 2018TBA - Software Solutions & Services for ports, terminals & warehousesMULTIMODAL 2019TMS Awards 2016 winnersVigan Engineering S.A
  • Stemm
  • Cimbria Bulk Equipment A/S
  • Sailors Society
  • TBA - Software Solutions & Services for ports, terminals & warehouses
  • TOC Events
  • Cleveland Cascades Ltd

Turkish steel exporters eye Far East, South American after US tariff hikes

Turkish steel exporters eye Far East, South American after US tariff hikes

(Posted on 03/09/18)

In the face of additional U.S. tariffs on Turkish steel and aluminum, exporters are looking to explore alternative markets in the Far East and South America.

The move comes after U.S. President Donald Trump announced on Twitter on 10 August that he had approved a doubling of tariffs on steel and aluminum from Turkey.

Speaking to Anadolu Agency (AA), Aegean Ferrous and Non-Ferrous Metals Exporters Association Chairman Yalçın Ertan said that Turkey is the world's eighth largest and Europe's second largest producer of steel.

He said that the sector is growing with new investments every day.

According to Turkish Exporters Assembly (TİM), steel exports reached $8.36 billion in the January-July period this year, with a 27 percent rise compared to the same period last year.

During this period, the largest export destination for Turkish steel was Italy. It was followed by the U.S. with $552 million.

Exports to Far Eastern countries and South American countries, which have been set as the new targets by exporters, stood at $160 million and $225 million, respectively.

Ertan said that the sector exported 1.9 million tons of steel to the U.S. last year. He noted that there is a commercial decline around the globe due to the recent U.S. stance.

"After this implementation, our steel exports to the U.S. have become more difficult. However, we can easily close the gap with exports to Far Eastern and South American countries," he said. He said that the sector is accustomed to this kind of practice and this has actually given them some sense of defiance.

"Like a frontiersman, we can travel all over the world with a bag and sell Turkish steel to the rest of the world," he added.

He said that steel exports to the South American market have gained momentum in recent months and added that exports to Brazil rose by 159 percent to $30 million in the first seven months of the year. "Significant increases have also been recorded in exports to countries like Honduras, Paraguay and Panama," Ertan said.

He claimed that the increase in these markets will continue. "There is a gap in Far East countries emanating from China heading to its own domestic market. Turkish exporters will fill this gap."

Ertan said that Turkish steel entered the U.S. market in 1985 and is one of the most commonly used steels there, both in terms of quality and price.

He stressed that U.S. companies prefer Turkish steel. "But Since Turkish steel does not go there and the U.S. steel production does not meet local demands, steel prices in the U.S. have gone up, pushing it to import more."

Latest News

ArcelorMittal’s revised proposal for Essar Steel acquisition

(Posted on 14/09/18)

In response to media speculation, ArcelorMittal has confirmed that on 10 September 2018, it submitted... Read more


TPP boost to Australian jobs

(Posted on 14/09/18)

Australian workers, jobs and business will benefit significantly from the Trans-Pacific Partnership (... Read more


Poeth delivers for Algiers brewer

(Posted on 11/09/18)

One of the largest beer brewers in the world is investing substantially in Algiers where beer consumption... Read more


NGFA and NAEGA release joint statement

(Posted on 11/09/18)

The National Grain and Feed Association (NGFA) and North American Export Grain Association (NAEGA) released... Read more


Africa Improved Foods receives first SDG Award

(Posted on 11/09/18)

The Swiss Green Economy Symposium (SGES) this year presented its first SDG Award to Africa Improved... Read more


Russia’s Steppe to boost grain exports

(Posted on 03/09/18)

 Russian agriculture holding company Steppe plans to ramp up grain exports sharply this season,... Read more


China establishes world’s 18th large-scale CCS facility

(Posted on 03/09/18)

China is continuing to set the pace in deploying carbon capture and storage (CCS) as a vital climate... Read more


Scrap handling growth in Amsterdam

(Posted on 28/08/18)

The export of scrap from the port of Amsterdam is growing steadily. About 600,000 tons of scrap was... Read more


World steel production continues to rise

(Posted on 28/08/18)

World crude steel production for the 64 countries reporting to the World Steel Association (Worldsteel... Read more


BHP’s year end results

(Posted on 28/08/18)

BHP has released its full year results and Andrew Mackenzie, Chief Executive Officer and Peter Beaven... Read more


Cimbria Bulk Equipment A/STelestackMultimodal 2018Bühler GmbHDocksolidStemm
  • Port of Stockton
  • Ovet
  • Multimodal 2018
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping