Fuat Tosyalı Warns the Steel Industry: “If No Measures Are Taken, the Damage Will Be Irreparable”
According to data released by the World Steel Association, Tosyalı Holding ranks as Türkiye’s largest steel producer, Europe’s third largest, and one of the world’s top 50 steelmakers with 9.12 million tons of liquid steel output. Fuat Tosyalı, Chairman of Tosyalı Holding, underlined that Türkiye must approach developments in the steel sector with a far more strategic and macro perspective.
“China’s Dumped Exports Are Increasing”
Tosyalı noted that Chinese steelmakers’ dumped exports are growing day by day, drawing attention to the rise in Türkiye’s steel imports. He stated:
“Under these conditions, not only is corrective investment impossible, but it is also becoming impossible to preserve what already exists. The steel industry must make significant investments every year just to maintain its current capacity. If no measures are taken, Türkiye’s steel sector will face irreparable damage.”
Tosyalı highlighted the importance of macro strategies for Türkiye’s steel industry, stressing:
“The problems in China’s construction sector, which has a massive share in its economy, are weighing heavily on its steel industry and indirectly impacting the world. China is both the largest producer and the largest consumer. Due to weak domestic demand, Chinese steelmakers are increasing their dumped exports, threatening all regions, particularly Europe.”
“Trade Deficit with China Surpasses $50 Billion”
Tosyalı pointed out that Türkiye’s trade deficit with China exceeded $50 billion in the last 6–7 months, with the majority stemming from steel imports. He explained:
“Countries unable to sell to the U.S. redirect their surplus production to other markets. Türkiye has become the most open market. China cannot sell to Europe or the U.S., but it can easily sell to Türkiye. This puts enormous pressure on the sector. By dumping excess products into global markets at low prices, China disrupts price balances and deepens unfair competition.”
“Turkish Steel Industry Survives Without Incentives”
Tosyalı emphasized that while the steel industries in both the U.S. and Europe are supported by government subsidies, the Turkish steel industry stands with zero incentives. He said:
“Under the ECSC (European Coal and Steel Community) agreement, no incentives were granted to Türkiye’s steel industry. Turkish steelmakers built their industry entirely on their own skills and equity. Today, however, they are unable to use their capacity and are struggling.”
“We Invest, But China Sells at a Loss”
Referring to Tosyalı Holding’s latest steel investment in İskenderun worth over $4 billion, Tosyalı remarked:
“We invest, but then Chinese products are shipped here below our production costs and dumped on our market. This doesn’t add up. Even if steel prices rise, the benefit to the national economy remains limited. But for producers, each $1 per ton in millions of tons equals $100 million. With that capital, new investments and technologies could be developed. But if products are sold at a loss, the capital erodes every year. Once this industry collapses, it cannot recover.”
“Türkiye Is a Big Market—And China Comes Prepared”
Highlighting Türkiye’s industrialized and dynamic market, Tosyalı said:
“There’s a market of 300 million people in Africa, but they consume only a quarter of what Türkiye consumes. Türkiye’s industrial clusters are highly developed. China can come into Türkiye’s market and sell freely. If China turns back to its domestic market and cuts subsidies after our industry collapses, there will be no way back. We must ensure sustainability.”
Togg: A Historic Milestone for Türkiye
Commenting on Togg’s launch in Munich, Tosyalı described Togg’s seven-year journey as a historic milestone for the country:
“With more than 50 years of industrial experience, I can say that Togg is a historic milestone for Türkiye. The journey that began seven years ago has turned our dream of a national automobile into reality. This is not only about producing a car, but also about the birth of a new industry and a new excitement for our country.”
He added that they have built a mobility ecosystem with electric and connected technologies:
“We are pleased to see an ecosystem forming step by step around Togg. Our investments are not limited to production alone; we have established an ecosystem ranging from charging stations to the battery value chain. This success is not only Togg’s, but the success of Türkiye’s entire electric vehicle ecosystem.”
BMC and the New Altay Tank
On defense industry investments, Tosyalı announced that BMC’s new Altay tanks are ready for production:
“Production has begun at BMC Power’s facility. The infrastructure and superstructure of the tank factory have been completed. Tests have been successfully passed and mass production approval has been granted. From the second half of 2026, the New Altay will enter mass production with a fully domestic power unit developed by BMC Power.”
Business Principles: No Debt, Full Transparency
Explaining his company’s management principles, Tosyalı referred to his father’s advice:
“In my life, I never owe money to the market. We neither lend nor borrow. The price of a sold product is certain; if it’s unsold, it stays in our warehouse. We don’t carry receivables. The cash price is clear. When we sell a vehicle today, we know our profit—there is no uncertainty.”
Source: Dünya.com
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