Turkey to benefit from Trump measures against China: metals body

The measures expected to be imposed on China by the incoming Trump administration will have a positive effect on Turkey's exports, Cetin Tecdelioglu, Chairman of the Istanbul Ferrous and Nonferrous Metals Exporters' Association said Jan. 6.

He said any measures applied to China and other Asian countries would give an advantage to Turkey's steel sector, which should evaluate and strengthen its position as a reliable supply chain.

"Turkey has already been a good sub-industry of automotive, machinery, defense industry and related sectors in the global market," Tecdelioglu said.

The US was one of Turkey's largest steel export destinations before Section 232 tariffs were imposed in August 2018, raising its steel tariff rate from 25% to 50% amid increased political tension between the countries.

Turkey's tariff rate on steel was later dropped back to 25% in May 2019 after political relations returned to normal, although Turkey's steel exports to the US have declined notably since then.

New opportunities were expected to arise for Turkey in 2025, Tecdelioglu said, adding that the biggest ones would come after the normalization of the situation in Syria and the end of wars in nearby regions.

The IDDMIB aimed for double-digit growth annually, Tecdelioglu said. "With a growth of around 10%, we aim to complete 2025 with $14 billion of exports."

Platts, part of S&P Global Commodity Insights, assessed Turkish exported rebar at $562.50/mt FOB on Jan. 6, unchanged on the day.