According to report, Turkey’s first stainless steel cold rolling mill Posco Assan TST said it plan to commission production at the end of this month and it will see most of stainless steel CR imports to decline soon, said the company deputy chief commercial officer.
The company’s target production will be 200,000 tons a year. The new free trade agreement between Turkey and South Korea has been effective from May 1st.
The FTA also benefits the Korean mills for exporting to Turkey over other non-European mills to export stainless steel to the country.
Psoco Assan believes the CR stainless steel will decline significantly in the coming years as it can meet the most domestic demand. Posco Assan will also import hot rolled stainless as raw material.
The FTA helps to remove the tariff of 65% of items imported from South Korea steps by steps for seven years. Products including industrial goods including iron, steel and automotive products.
