Türkiye’s Posco Assan Company Requests Additional Anti-dumping Duties On Stainless Steel Products From China And Indonesia

Turkey’s largest stainless steel flat steel producer Posco Assan TST (Turkey Posco Assan TST, a joint venture of South Korea’s Posco Steel and Turkey’s Kibar Holding) has requested the Turkish Ministry of Trade to launch an anti-dumping investigation into stainless steel imported from China and Indonesia, and to conduct an anti-dumping investigation into stainless steel imported from China and Indonesia. Products imported into the country are subject to a 20% anti-dumping duty.

Turkey’s Posco Assan Company believes that the import of low-priced inferior stainless steel has affected Turkey’s domestic trade steel production, and requires necessary measures to be taken on these imports to protect domestic producers and ensure fair and equitable trade. Since its establishment in 2013, the company has suffered losses every year except 2022. In the past 10 years, it has been facing competition with low-priced imported stainless steel. Its losses have reached US$200 million, and its capacity utilization rate has dropped to 45%. Pohang Asan Company is currently comprehensively assessing the situation and may face the risk of bankruptcy if further measures are not taken.

According to the latest data from the Turkish Statistics Institute, Turkey imported 307,000 tons of cold-rolled stainless steel flat steel in 2023, of which 220,000 tons came from Asian countries, especially China and Indonesia. On December 31 of the same year, Turkey issued a presidential decree to increase the import tariff on some cold-rolled stainless steel plates from 8% to 12%.