According to a statement released by the Stainless Steel Industrialists and Businesspeople Association (PASİD), although Türkiye reached a significant level of stainless steel consumption in 2024, profitability across the industry remained at low levels. The data indicates that annual domestic demand reached approximately 700,000 tons, with the majority of this demand being met through imports.
With approximately USD 2 billion worth of stainless steel imports, Türkiye ranked among the world's largest consumers of stainless steel.
PASİD officials emphasized that the country's limited domestic production capacity poses risks in terms of the current account deficit and dependence on foreign suppliers, highlighting the importance of expanding local production capacity. In particular, the aim is to reduce this gap in the coming years through new investments and integrated production facility projects.
Industry representatives also noted that factors such as rising energy costs, exchange rate fluctuations, and import pressure have negatively affected profitability, stressing that the implementation of strategic support mechanisms is critical to the future of the stainless steel industry.