lower us tariffs likely to offer little relief to Turkish rebar

摘要

The US’ surprise halving of tariffs on steel imports from Turkey to 25% sparked bullish sentiment on Turkish scrap and rebar prices, but the impact of additional sales to the US is likely to be limited. Bullish reaction to the news is largely based on export figures before the US safeguards on Turkish steel in 2018. The US imported 664,000 mt in 2017 and 1.38 million mt in 2016. However, the remaining 25% import tariff on Turkish steel combined with the complete elimination of tariffs on steel imports from Canada and Mexico will reduce the scope for large-scale exports from Turkey.