PASID Chairman Arslan Küçükemre emphasized that the biggest problems in the sector are high interest rates and difficulties in accessing financing. “It has become almost impossible to produce under these conditions,” Küçükemre noted, adding that production is severely limited in the current economic environment.
Decrease in Imports and Decrease in Utilization
Küçükemre stated that 2024 was a very difficult transition for the stainless steel industry. He stated that the import figures decreased from 750 thousand tons to 700 thousand tons last year, and that the utilization rates in the sector have also declined significantly. Stating that this loss is growing directly with the economic recession and the increase in production, Küçükemre emphasized that they are making intensive efforts to increase the increase in public opinion on stainless steel. “We tell our personalities about hygiene, long life and ease of use,” he stated, adding that he continues to strive despite the difficulties.
Foreign Investors Show Interest in Türkiye
Arslan Küçükemre pointed out that significant investments are coming to Türkiye despite the financial difficulties in the sector. "More than USD 1 billion of foreign investment has been made recently. 2 Korean, 1 Taiwanese and 1 French investor are operating in Türkiye. Most recently, a Chinese company decided to invest USD 250 million at the beginning of the organized industry in Yalova. These developments are promising," he stated, adding that the dynamism in the sector continues.
Tax Increase Concerns and Impacts
Referring to rumors of a possible tax increase on stainless steel products, Küçükemre stated that such a practice would negatively affect both industrialists and consumers. Pointing out that the prices of products such as cookware, cutlery and white goods, which are widely used in daily life, will increase, Küçükemre added that those with low incomes will be in a difficult situation.
Financing Crisis: Producers Cannot Find Capital
One of the most striking topics of the meeting was the financial crisis in the sector. Küçükemre stated that banks were being grumpy about lending and that high interest rates had greatly dampened investment enthusiasm. "The least accessible condition for industry to produce is credit. It takes great courage to analyze at the moment."
Cautious in 2025, Hopeful for 2026
Arslan Yıldızay, Vice President of PASID, stated that a cautious show is being put on in 2025 and that global growth also takes Türkiye into consideration. Yıldızay stated, "This year, we prefer to maintain the current structure instead of increasing the target. Our hope is for recovery in 2026," emphasizing that the matches in the sector continue, but he is hopeful for 2026. He also added that the decrease in interest rates could pave the way for growth again.
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