Zhejiang Zhonggang Steel was informed that the director of the Colombian Iron and Steel Association, María Juliana Ospina, said that by 2020 the Colombian steel industry plans to invest about 620 million US dollars. At the same time, the association also called for new trade barriers for unfairly imported products.
The Director General said that as of now, Colombian steel companies have invested $100 million in environmental projects and have significantly increased production. “In recent years, Colombia’s steel production has increased by 10% and accounted for 10.6% of industrial GDP,” Ospina said. “One of the main challenges facing our steel industry is to encourage and promote compliance with technical norms and quality standards, as well as to balance unfair competition with countries such as Turkey, China and Russia.”
The Colombian Iron and Steel Association said the association is working on a series of protective measures that will soon be submitted to the government to reduce the impact of the steel trade diversion on Colombia. Ospina added: "Turkey products account for 62% of Colombia's total steel imports. These steels are lower than international market prices, making it difficult for the Colombian steel industry to compete."
According to the Colombian Iron and Steel Association, nearly 40% of the country's steel demand is dependent on imports, 19% of which come from countries that have not signed a free trade agreement with Colombia.