Turkish steel industry needs state support – ÇİB

The Turkish steel industry needs government support to grow. This opinion was expressed at a specialized event by Ugur Dalbeler, Vice President of the Steel Exporters Association (ÇİB), Investing.com reports.

According to him, since 1997, the country’s steel industry has increased production from 5-6 million tons to 40 million tons without any assistance.

Dalbeler noted that the global steel industry has faced significant changes in recent years, and the industry has begun to reorient from the global to the regional level.

He recalled that during Donald Trump’s first term as US president, serious additional taxes and protectionist measures were introduced for the steel industry worldwide. This showed the importance of steel, which is the most used resource in the manufacturing industry. At the same time, the US steel industry has become stronger. In addition, right after the US, Europeans also started imposing additional tariffs and investing in their steel sector.

The steel industry should be supported by the government, Dalbeler believes.

“On the one hand, there are developing countries like China and developed countries like America and Europe, on the other hand… They all attach great importance to the steel industry and support it. We ourselves managed to grow while everyone else was shrinking during the pandemic and reached $22 billion in exports,” he said.

However, the ÇİB vice president added that in the environment of protectionism and fears that has re-emerged with Trump’s arrival, there should be a number of other elements of support for further growth of Turkish industry and exports.

Mehmet Ali Fincan, a member of ÇİB’s Board of Directors, said that at a time when global competition is increasing, government support plays a crucial role in ensuring sustainable growth of Turkish exports and achieving a stronger position in global markets.

As GMK Center reported earlier, in 2024, Turkish steelmakers increased steel production by 9.4% y/y – to 36.89 million tons. Last year, the country increased steel exports by 27.6% y/y – to 13.4 million tons.