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Eregli threatens Sidex/LNM with anti-dumping |
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In the second quarter of this year, Turkey’s
Eregli’s operating profit was up compared to first three months of the
year. First half exports were 650,000t, out of total sales of 1.64m tonnes.
Much went to the European Union and the United States. Total exports in the
first half of 2000 were only 224,000t.
While the company’s immediate future is quite promising, in the medium term it is likely to face growing imports of hot rolled from a revamped LNM/Sidex in Romania. Once Eregli has the capacity to meet domestic demand, it will try to stop any excess imports by launching an anti-dumping case against Romania. The state currently holds 46% of Eregli’s shares. Meanwhile, Turkey’s privatisation agency
says it hopes to finalise a credit of around $100m from the World Bank to
cover redundancies at Isdemir in the coming few weeks. This would allow
Erdemir to take over of the longs operation at Iskenderun, and invest
around $1,000m in the mill over the next ten years. |
| 14th Aug 2001 |
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