Turkey Tariffs Imported Threaded Wire, Holding Back Exports from China

Turkey currently adjusted the import taxes for threaded steels and wire rods upward in order to hold back the import of low priced products with bad quality as well as protect its domestic steel industry. This act will cause certain influence on the export of Chinese products. To compare the material costs of both countries, China uses iron ore at the cost of roughly 80 US$/ton while Turkey uses imported scrap steel at the cost of 330 US$/ton. Accordingly, the production cost of China is much lower than that of Turkey. Plus, the tax refund in export of threaded wire rod with content of boron definitely gives a competitive edge to Chinese products in Turkish market.