Turkey initiated anti-dumping investigation against cold-rolled stainless steel imports from China and Indonesia on 28 June 2024. And raw material prices in the first half of 2024 have risen in many cases.
Turkey opens stainless steel anti-dumping case against China and Indonesia
This news should make European stainless steel mills sit up and take notice. Rumours had been circulating on the market for several months that Turkey could initiate proceedings against cold-rolled stainless steel from China and Indonesia at the instigation of Turkish mills. Last Friday, 28 June 2024, the rumour became reality and Turkey opened the corresponding investigations.
This should stabilise and increase the price level for stainless steel in Turkey, making it more interesting for imports from the EU.
Rising raw material prices in the first half of the year
Many commodity producers are likely to have fond memories of the first half of 2024.
Oil prices have risen by more than 12% since the beginning of the year, with petrol on the futures markets in the USA even increasing by more than 20%. The ongoing voluntary production cuts by OPEC+ supported prices.
The prices of industrial metals also rose noticeably in some cases – tin by 26% and copper by 11%. A growing supply deficit played the main role for copper in particular – it reached a record high in mid-May.
Courtesy : steelnews.biz
