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At the beginning of 2024, in SG245W2 Grade A steel order to reduce the dumping of stainless steel plates and support the development of domestic industry, Türkiye will increase the import tariff of some cold-rolled stainless steel plates from 8% to 12%. On June 28, 2024, due to the appeal of POSCO Assan TST, the largest producer of cold rolled stainless steel plates in Türkiye, an anti-dumping investigation was launched against cold rolled stainless steel plates from China and Indonesia.
Despite the impact of anti-dumping investigations and tariff hikes on the relevant SG245W2 Grade A steel markets, the import volume of Türkiye's stainless steel plates (HS codes 7219 and 7220) in the first nine months of 2024 still increased by 17% year-on-year to 565000 tons, indicating that the import demand is still strong. Among them, China is still Türkiye's largest supplier of stainless steel plates. From January to September 2024, China will export 220000 tons of stainless steel plates to Türkiye, a year-on-year decrease of 5%. Indonesia's total export of stainless steel plates to Türkiye increased by 50% year-on-year, reaching 153000 tons. South Korea's import performance was particularly outstanding. During this period, its export volume to Türkiye doubled to 102000 tons, a significant increase. Other major suppliers include Italy (12700 tons) and Spain (12000 tons).
The increase of import volume reflects the steady increase of domestic demand in Türkiye to a certain extent, and the restriction of domestic production capacity makes imports still occupy an important position. In the future, as anti-dumping investigations continue to advance, there may be new SG245W2 Grade A steel market adjustments.
