Turkish Steel Targeted for EU Tariffs to Help ArcelorMittal
Bloomberg - The European Union threatened to impose tariffs on steel from Turkey in the latest sign of concerns by EU-based producers such as ArcelorMittal and Thyssenkrupp AG about low-cost imports.
The European Commission opened a probe into whether Turkish exporters of hot-rolled coil sold it in the EU below cost, a practice known as dumping.
The EU market for this kind of steel, a bread-and-butter product used in everything from cars to construction, was worth around $17 billion last year. The bloc’s supply of hot-rolled coil in 2019 was roughly 31 million metric tons, of which Turkey accounted for about 2.8 million tons.