According to the Turkish Steel Producers’ Association, Turkey’s customs duty for iron ore imports has been removed with the 2015 import regime published in the Official Gazette dated December 31st.
The customs duty for imports of iron ore, which is the main steelmaking raw material, had been at one percent.
The TCUD said that iron ore imports accounted for 60% of Turkey’s iron ore consumption. In 2014, Turkey imported 8 million tonne of iron ore, valued at USD 1 billion. The removal of the customs duty is expected to provide savings of USD 10 billion for the domestic steel industry.
Source – steelorbis
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